The cryptocurrency exchange FTX was supposed to be the crown jewel of the Bahamian government’s push to be the global destination for all things crypto. Instead, FTX is bankrupt. And Bahamians are trying to figure out what’s next for their country.
Rolle had been invited by Kirby Samuel, the principal of Mt. Carmel Preparatory Academy, to sing as part of the school’s Christmas celebration. His act consisted mostly of a half dozen Afro-Caribbean gospel songs, but one number stood out — his social media hit about the recent collapse of FTX.
Asked about the failure of FTX, Rolle described it as a sad distraction from the many issues facing the country. Others are angry, particularly with, the young founder of FTX. The Bahamas had a reputation, like some other Caribbean isles, as a destination for illicit and offshore finance. There was a belief that crypto would allow the island to diversify its economy, give Bahamians more financial opportunities and overall help provide the country a more prosperous future.
Deleveaux said he became interested in crypto as early as 2014, and mostly has been trying to focus his organizations’ efforts on the non-trading parts of crypto, like blockchain technology, financial inclusion and technological uses. He remains skeptical about cryptocurrency trading.
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