In the second week of Bankman-Fried’s trial, the government of the Bahamas held its first crypto conference, D3. The event was a statement: the country is still open for crypto business.
In contrast to the conference FTX hosted the previous year, attended by sports stars, supermodels and ex-political leaders, there was little glamor. Gone were the massage breaks, sunrise yoga, and talks on effective altruism, the intellectual movement espoused by Bankman-Fried—the agenda was all about regulation.
FTX was the elephant in the room. In his keynote speech, Philip Davis, prime minister of the Bahamas, did not broach the topic. In a panel appearance, Christina Rolle, executive director at the Securities Commission of the Bahamas, the country’s financial regulator, described FTX as the “three cursed letters.” The various other panelists took refuge in euphemism: It wasn’t the FTX debacle, it was “the unprecedented challenges” of the previous year.
The message was clear: forget about FTX, it’s time to move on.