Dressed in a canary blue suit on a warm December night, sweat dripping from his brow, Bishop Lawrence Rolle belts out the lyrics to his latest hit song for the hundreds of children and adults gathered to celebrate Christmas.
“FTX!,” his backup singer and audience scream back. “The money have done gone!”
Rolle had been invited by Kirby Samuel, the principal of Mt. Carmel Preparatory Academy, to sing as part of the school’s Christmas celebration. His act consisted mostly of a half dozen Afro-Caribbean gospel songs, but one number stood out — his social media hit about the recent collapse of FTX. “Their arrival was sort of the culmination of the work the Bahamians did to move in this direction,” said Stefen Deleveaux, president and CEO of the Caribbean Blockchain Association.
In some ways, FTX was both ubiquitous and removed from the local community, Bahamians said. Its ads were everywhere, most notably at the Nassau Airport in the hall for tourist arrivals. But at the same time, FTX ran most of its operations from the secure luxury compound known as Albany, where residents like Tiger Woods and Justin Timberlake can be regularly spotted. Albany is located on the opposite side of New Providence, the most populated island in the Bahamas and the location of Nassau.
“Like the rest of the world, I’ve been glued to my television set since collapse,” said Mt. Carmel’s principal Samuel, in an interview.
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