Glassnode Data Shows That FTX Collapse Left Bitcoin Holders Unfazed.

The FTX debacle shook the priorities of the Bahamian authorities. The country's attorney general, Ryan Pinder, has defeated the actions of the "nation of laws" against the collapsed cryptocurrency exchange.

The troubled and now-bankrupt crypto exchange FTX is the subject of “an active and ongoing investigation,” Bahamian attorney general Ryan Pinder told the press on Sunday. Pinder also stressed that putting the blame on the Bahamas “because FTX is headquartered here would be a gross oversimplification of reality.” (Bitcoin.com)

Ripple’s APAC Policy Director has described the fall of FTX as “incredibly damaging” for the crypto space, but says the industry should stand the test of time if its focus shifts towards building “real utility.”

Emmer also alleged that SBF was pushing for “special treatment legislation through Congress,” and when it was finally revealed, the industry started raising red flags.

The quick downfall of FTX with an $8-10 billion deficit in its balance sheet has left the broader cryptocurrency market reeling under its cascading effects.

The monumental collapse of FTX will go down as one of the biggest corporate scandals of all time. But, at least Sam Bankman-Fried, or SBF, is sorry. On Nov. 22, the disgraced founder of FTX penned a letter to his former employees describing his role in the company’s bankruptcy. “I never intended this to happen,” he wrote. “I did not realize the full extent of the margin position, nor did I realize the magnitude of the risk posed by a hyper-correlated crash.” Get this: SBF still thinks the company can be saved because “there are billion of dollars of genuine interest from new investors.” Shouldn’t he be preoccupied with trying to avoid jail right now?

Prominent crypto influencer Ben Armstrong, aka BitBoy Crypto, has flown to the Bahamas in a bid to talk to Sam Bankman-Fried, FTX founder and its former CEO.

On Oct. 26, days before the collapse of his crypto exchange FTX, Sam Bankman-Fried sat for lunch at an upscale Dubai restaurant, subtly testing the waters for funding at a table of founders, bankers and financiers, including Anthony Scaramucci.

What did Sam Bankman-Fried do with FTX and how was it possible that no one saw it coming?