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The Wall Street Journal

Crypto Agency FTX Landed within the Bahamas With a Bang, and Now the Bahamas Is Choosing Up the Items



NASSAU, Bahamas—Final 12 months, an FTX executive walked right into a financial institution workplace right here and put $4.5 million of the corporate’s cash behind an bold plan to purchase an oceanside parcel of land and switch it into the crypto large’s new headquarters.

The chief, Ryan Salame, closed the deal briefly order, folks acquainted with the matter mentioned, simply a part of the corporate’s whirlwind real-estate buying spree in and round Nassau. In April, the Bahamas prime minister appeared with FTX executives at a ceremonial groundbreaking on the brand new land. However development by no means actually received below means. FTX collapsed this month, its real-estate holdings now subsumed in chapter.

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