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INSIGHT: Fyre, FTX and the harm to our nation
A YOUNG entrepreneur, out of his depth, losing a ton of money and injuring the reputation of The Bahamas along the way. I could be talking about Sam Bankman-Fried, whose company FTX has combusted so spectacularly in the past week or so – and I will – but let’s take a trip to the past first.
220 Legendary jobs for ‘hazardous’ site
An $80m marina investment for southern New Providence is pledging to transform “a hazardous location” blighted by trash dumps and stolen boats via a project that will create 220 permanent jobs at full build-out.
Bahamas told: Don’t pause digital assets plan on FTX failure
Halting its digital assets growth strategy due to FTX’s collapse would be “the worst thing The Bahamas could do”, an industry entrepreneur says, even though the failed crypto exchange now faces a local criminal investigation.
Collapse ‘bewilders’ FTX Bahamas staff
FTX’s 40 Bahamian staff have been left “bewildered and beleaguered” by the speed of the crypto exchange’s collapse, a senior executive says, amid hopes its $74m real estate outlay will prove a key recovery source for local creditors.
UPDATED: Man released from prison shot dead
A MAN who was recently released from prison was shot dead at the intersection of Eden Street and Foster Road on Saturday.
Fears FTX freeze order was violated
Fears were raised yesterday that the Supreme Court order freezing all assets of FTX’s Bahamian subsidiary was violated when some of the collapsed crypto currency exchange’s clients withdrew their monies late last week.
Unsolicited BTC ads
Grateful I am for allowing me this small space to make an inquiry into the unsolicited BTC ads, for certainly other customers/clients experiencing some of the same deluge of this company’s ads, and unsolicited at that.
Team Bahamas eliminated
Team Bahamas was eliminated from FIBA World Cup ‘23 contention, but a pair of resilient efforts at home led to a two-game split in the latest window of Americas Qualifiers.
McFall, McCoy off to good start in NCAA Div. ii
BOTH Johnathan McFall and Malachi McCoy got their senior seasons off to promising starts as the NCAA Division II basketball season tipped off last weekend in early season tournament play.
Bahamas secure hard-fought win over Panama
THE Bahamas men’s national team played with a lot of heart and grit right to the end, securing a hard fought 83-79 victory over Panama in the first of two games at home this weekend as the FIBA Americas World Cup Qualifier continued Friday night at the Kendal Isaacs Gymnasium.
PM unveils Bahamas Blue Carbon Credit Management Initiative at COP-27
PRIME Minister Phillip “Brave” Davis along with environmental enthusiasts unveiled the Bahamas Blue Carbon Credit Management Initiative at the CARICOM Pavilion at COP-27 on Friday.
Exuma residents alarmed after murder
THE sister of a 22-year-old man who was killed in Exuma on Thursday night said her brother, Malik Fernander, relocated to the island to work and provide a better life for his unborn child.
$73m ‘zero carbon’ project targets 36k annual visitors
A $73m investment is aiming to attract 36,000 guests per year at full build-out of a “zero carbon” residential and yacht community on an Exuma cay located just three miles from Georgetown.
Insurers: Bahamas ‘dodges bullet’ on Hurricane Nicole
Bahamian insurers yesterday asserted that the nation has “dodged a bullet” with Hurricane Nicole amid expectations that it will produce “minimal” losses and damage.
‘Don’t build financial services on crypto’
FTX’s collapse into provisional liquidation is a warning that The Bahamas should “not build the whole financial services recovery” on digital assets, a prominent Bahamian accountant said yesterday.
AML Foods targets e-commerce launch
BISX-listed AML Foods is planning to launch an e-commerce division during its current financial year that will enable the group to supply clients “throughout The Bahamas”.
DIANE PHILLIPS: View from the sidewalk
IT’S amazing what trying to look at something through someone else’s eyes can reveal.
53-year-old man was victim of latest killing
THE man who was shot dead outside his Kool Acres home on Wednesday night has been identified by area residents as 53-year-old Nathan Stubbs. According to police, the incident occurred shortly before 10pm outside the victim’s residence.
Regulator ‘freezes’ FTX and sends in liquidator
Regulators yesterday moved to protect clients of The Bahamas’ flagship crypto currency investor by “freezing” its assets, and seizing control of the company, amid reports it acquired $74m in local real estate this year alone.
Blaze at Prodigal Sons shack
WITH the return of the Boxing Day and New Year’s Day parades a few weeks away, the Prodigal Sons Junkanoo group is uncertain if it will be able to compete following a devastating fire at their shack on Tuesday.
