Bahamas Told Bankman-Fried to Mint New Coins as FTX Crumbled

Bahamas government officials worked closely with Sam Bankman-Fried and tried to help him regain access to key computer systems of bankrupt FTX Trading, lawyers for FTX said in a court filing before the failed crypto magnate was arrested on Monday.

Before Bankman-Fried was blocked from FTX systems, the Bahamas asked him to mint new digital coins worth hundreds of millions of dollars and then transfer those tokens to the control of island officials, according to the legal team in control of FTX.

The accusations escalate a battle between an American team of restructuring executives trying to collect FTX assets to ...