FTX has left the building. Citing issues with Hong Kong’s pandemic mandates, FTX has moved its headquarters from Hong Kong to the warmer Bahamas.
Sam Bankman-Fried didn’t mention China or crippling crypto regulations as the reasons for the move, but perhaps the pandemic quarantine and isolation requirements gave him an opportunity to get out of China’s shadow without actually angering them, while also getting ahead of any crypto regulations already in the works for Hong Kong.
Either way, the move is a big deal, considering FTX started in Hong Kong and is moving to the other side of the planet.