Government Silence on FTX Caused ‘Incalculable Damage’ – Eye Witness News

Nassau, Bahamas — Opposition shadow finance minister Kwasi Thompson said yesterday that the country’s reputation is under attack, prompting the government to hire an international PR firm to push cryptocurrency exchange giant FTX to collapse. He questioned whether he managed the country’s international response to

Attorney General Ryan Pinder spoke last night about every attempt Attributing all the blame for the FTX debacle to this country is ‘greatly oversimplifying reality’ National speech.

In a statement, Thompson welcomed Pinder’s statement, but said the exercises missed the opportunity for Prime Minister Philip Davis to address the country.

Thompson added that much of the international community is using the collapse of FTX to attack the Bahamas’ reputation as a well-regulated financial services jurisdiction.

He argued that while the previous administration positioned the country as a global leader in fintech financial services through passage of the Digital Asset Register and Exchange Act (DARE), approval to operate as a digital exchange and the demise of FTX was the Davis administration’s presidency. See what happened below.

“I regret that the PLP government has squandered opportunity after opportunity,” Thompson said.

“We are disappointed that it has taken so long to issue a comprehensive statement. Even S&P said in its latest report on the Bahamas, which recently filed for bankruptcy.”

Thompson continues: We agree with the Attorney General that comments on this matter must always be held accountable. Opposition leaders and all members of the Opposition have always spoken out in our country’s best interests. This is exactly why I make these comments.

“The Bahamas’ reputation is under attack. I repeat my statement that I made in Congress: We are not saying enough to defend our industry, if we say we are leaders, we are should lead!

Thompson said: Where is your communication strategy? One statement is not enough. Did you contract an international PR firm? Why didn’t the government meet with the opposition, and more importantly with industry, to manage the international message in a non-partisan manner? We must do more to protect our international reputation and the global industry leadership position that FNM left behind. “