Crypto Exchange FTX Moves to Bahamas After China Crackdown

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Bloomberg Technology published this video item, entitled “Crypto Exchange FTX Moves to Bahamas After China Crackdown” – below is their description.

Sep.24 — FTX CEO Sam Bankman talks to Emily Chang about his decision to move FTX’s headquarters from Hong Kong to the Bahamas in response to increased regulatory pressure from China.

Bloomberg Technology YouTube Channel

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    The Bahamas, known officially as the Commonwealth of The Bahamas, is a country within the Lucayan Archipelago of the West Indies in the Atlantic. It takes up 97% of the Lucayan Archipelago’s land area and is home to 88% of the archipelago’s population.

    The archipelagic state consists of more than 700 islands, cays, and islets in the Atlantic Ocean, and is located north of Cuba and Hispaniola Island (Haiti and the Dominican Republic), northwest of the Turks and Caicos Islands, southeast of the US state of Florida, and east of the Florida Keys.

    The capital is Nassau on the island of New Providence. The Royal Bahamas Defence Force describes The Bahamas’ territory as encompassing 470,000 km2 (180,000 sq mi) of ocean space. The country gained governmental independence in 1973 led by Sir Lynden O. Pindling, with Elizabeth II as its queen.

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    Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.

    Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.

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