The FTX scandal, conceived in the Bahamas, left investors grappling with legal battles, attempting to recover funds from the collapsed company. As a consequence, the Bahamas’ reputation has suffered, with negative publicity and fear, uncertainty, and doubt casting a shadow over the island nation. Meanwhile, the Cayman Islands has emerged as a crypto-friendly alternative, attracting a growing number of blockchain companies and startups.
But do the Caymans truly offer a better environment for these businesses? Let’s dive into the pros and cons of each jurisdiction.
The Bahamas’ FTX Fiasco: A Closer Look at the Fallout
The impact on the Bahamas’ reputation
After FTX’s notorious collapse, the Bahamian jurisdiction has been stained with controversy. Sam Bankman-Fried’s arrest in January further intensified the scrutiny, causing some to question the country’s regulatory framework. This has led to concerns that the Bahamas…
