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Keith Roye II: Digital transformation in reach of SMEs too
In today’s fast-paced business landscape, “digital transformation” is not just a buzzword but a necessity for staying competitive. While large corporations often have deep pockets to fund complex digital initiatives, small and medium-sized enterprises (SMEs) can also thrive in this digital age by crafting strategies that are tailored to their unique needs and capabilities.
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Commission 'content' to hand over $426m FTX digital assets
The Securities Commission plans to seek Supreme Court approval to transfer some $426m worth of digital assets it is safeguarding into the care of the liquidators for FTX's Bahamian subsidiary.
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Commission unveils DARE overhaul - no FTX mention
The Securities Commission last night unveiled its long-awaited overhaul of The Bahamas’ digital assets regulatory regime although there was no mention of, or reference to, the recent FTX implosion.
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FTX Bahamas demanding $9.15bn from US affiliates
FTX’s Bahamian liquidators are seeking to recover a total $9.15bn from the crypto exchange’s US entities with some 84 percent of this sum involving assets that were “misappropriated” prior to its late 2022 collapse.
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Central Bank: 1,250% digital asset capital not ‘excessive’
The Central Bank yesterday rejected assertions it is being “excessive” in requiring licensees to hold 12.5 times’ the amount of capital involved to back trades of non-stablecoin digital assets.
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KEITH ROYE II: Embrace digital change to drive long-term growth
The COVID-19 pandemic was a catalyst for digital transformation, pushing companies to rethink their strategies and adapt to rapidly changing circumstances. As we transition into a post-pandemic world, it is important to reflect on the lessons learned and explore the future direction of digital transformation.
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$13.4bn flowed through FTX Bahamas accounts
Some $13.4bn flowed through FTX's Bahamas accounts in the ten months immediately prior to the crypto exchange's collapse, its liquidators revealed yesterday, as they sought to dispel allegations it was "a nullity".
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PM: FTX ‘lessons learned’ will make Bahamas better
The Prime Minister yesterday pledged that “the lessons we learned” from the FTX crypto exchange’s collapse will enable The Bahamas to better strengthen its regulatory regime and emerge as a regional digital assets hub.
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Commission asset turnover as part of FTX’s settlement
FTX Bahamas’ liquidators have agreed to use “commercially reasonable efforts” to ensure some $426m worth of digital assets held by the Securities Commission are transferred to their US counterparts.
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‘Avoiding digitisation will cost you more’
PLATO Alpha Design CEO Duran Humes said the decision to avoid digital transformation is costing Bahamian businesses far more in the long run. From government agencies to the private sector, Mr Humes said Bahamian businesses continue to suffer the consequences of avoiding the need for digitisation.
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Regulator's warning on digital assets exchange
Bahamian regulators yesterday issued a warning about an unregistered digital assets exchange purported to be operating from this nation illegally.
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FTX liquidators prevent $8m GoldWynn 'forfeit'
FTX's Bahamian liquidators prevented a near-$8m loss by completing the acquisition of eight condo units in the GoldWynn development at Goodman's Bay, it has been revealed.
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SBF’s trading arm, Alameda Research, operated in Bahamas without licence
The private trading entity created by Sam Bankman-Fried, and alleged to have played a key role in FTX’s multi-billion dollar implosion, was based and controlled in The Bahamas despite not being licensed to operate in this jurisdiction.
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FTX’s GoldWynn condos to be ‘absorbed at market value’
THE eight GoldWynn condo units newly-acquired by FTX’s Bahamian liquidators will be “readily absorbed by the market” when put up for sale, the project’s developer predicted yesterday.
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International link sees UB join forces with Cambridge
AN INTERNATIONAL link-up has seen the University of The Bahamas (UB) partner with the University of Cambridge and the Securities Commission of The Bahamas to provide a Fintech and Innovation programme.
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Deal’s ‘equal treatment’ for 53k FTX Bahamas claims
FTX’s Bahamian liquidators “are in the advanced stages” of negotiating a “global settlement” with their US counterpart that will ensure equal treatment for their near-53,000 creditors.
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FTX: $7.7bn owed to Bahamas ‘misleading’
A key financial adviser to FTX's US chief yesterday disputed as "misleading" assertions that some $7.7bn is currently owed to the failed crypto exchange's Bahamian subsidiary.
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Digital banking the ‘only way forward’ for Andros residents
DARIN Bethel, president of the Andros Chamber of Commerce said that digital currency providers are the “only way forward” for North and Central Andros businesses and residents.
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Crypto mining ban 'begs explanation'
A Bahamian digital assets entrepreneur says the Securities Commission's decision to ban crypto currency mining in the revised Digital Assets and Registered Exchanges (DARE) Bill warrants further explanation.
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‘FTX chief planned $256m sell-off behind our backs’
FTX’s Bahamian liquidators have accused their US adversary, aided by its local law firm, of going behind their backs in attempting to sell $256m worth of real estate domiciled in this jurisdiction.
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