FTX buyers appear to be cashing out of bankrupt crypto exchange by means of a Bahamas loophole

Important Factors

Investigation by Argus Analysis discovered unconventional trading patterns that propose “determined” buyers are relying on FTX people in the Bahamas to withdraw their cash, in accordance to Argus.
Some have been acquiring NFTs that show up to be owned by Bahamian citizens, at astronomical rates. In a person circumstance, a digital collectible that traded for $9 three weeks back bought for $10 million.
“This NFT activity is very irregular at a macro stage when the NFT market place total is declining, both of those in price and in quantity, and in this specific situation when there is minimal investing on other FTX markets,” suggests Owen Rapaport, cofounder and CEO of Argus, a blockchain analytics organization.

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