Bahamas’ Sand Dollar attracted 0.5% of cash in circulation 3 years on: official
Bahamians have been willing to explore the CBDC, with 120,000 of the island’s 400,000 opening accounts, but they have only transacted $2.1 million in over three years.
Bahamians have been willing to explore the CBDC, with 120,000 of the island’s 400,000 opening accounts, but they have only transacted $2.1 million in over three years.
As more countries jump on the CBDC bandwagon, experts are now scrutinizing the benefits and pitfalls of this tech and whether it could promote financial inclusion or a ploy to control the market.
The Securities Commission of The Bahamas began the development of the DARE Act in 2018, and it was passed in the House of Parliament in December 2020.
As per U.S. securities regulator, Caroline Ellison had misappropriated customer funds from FTX to use in Alameda's trading activity, while Wang had created the software that allowed this to happen.
SBF's options for a comfortable life and freedom appear to be dwindling as he faces spending a lifetime in jail without parole should a U.S. court convict him on the eight charges he's facing.
If convicted of eight counts of charges filed by the DOJ, Sam Bankman-Fried could see himself landing 115 years in prison.
Following his arrest in the Bahamas, SBF will have to face charges brought against him, with former FTX CEO John Ray III set to testify in court over the exchange's collapse.
Sam Bankman-Fried has been arrested by authorities in the Bahamas and is now awaiting extradition to the US to face several charges tied to the FTX's collapse.
Another day, another flood of damning developments in the ongoing FTX debacle, with fears of contagion showing no sign of abating.
Observers noticed on-chain records showing "hundreds of millions of dollars" worth of digital assets began leaving the FTX exchange’s wallets late on Friday night.
The FTX exchange may have filed for bankruptcy protection but there’s no real defense against the sector-wide carnage this scandal has unleashed.
This week’s dramatic implosion of the FTX exchange continues to disgorge a seemingly nonstop parade of machinations and sordid revelations that threatens to engulf the entire digital asset sector.