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How the Saint Lucia Citizenship By Investment Program Can Benefit Crypto Investors Seeking a Tax Haven

  Photo by yousef alfuhigi on Unsplash Cryptocurrency investors are always on the lookout for tax-efficient solutions to minimize their tax liabilities. One option that is gaining popularity among investors is the Saint Lucia Citizenship By Investment Program. In this article, we'll explore how this program can benefit cryptocurrency investors looking for a tax haven country. Saint Lucia is a sovereign island country located in the Caribbean Sea. Its Citizenship By Investment Program (CIP) was established in 2015, allowing investors to obtain a second passport by making a qualifying investment in the country. Saint Lucia's CIP has become a popular choice for high-net-worth individuals and entrepreneurs seeking a safe haven to protect their assets and minimize their tax liabilities. Saint Lucia's second passport permits travel to 145+ global countries visa-free, including the United Kingdom, Singapore, Hong Kong, as well as the European Union countries. The Saint Lucia pass

BlockFi files for bankruptcy as the fallout from the FTX fraud deepens

Following the collapse of potential buyer FTX, struggling cryptocurrency company BlockFi has applied for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of New Jersey. The corporation disclosed in the petition that it has more than 100,000 creditors and obligations and assets between $1 billion and $10 billion. FTX US, the American division of Sam Bankman-now-bankrupt Fried's corporation, was the recipient of a $275 million loan that the company described as outstanding in the filing. The cryptocurrency company, one of many businesses that experienced severe liquidity problems following the collapse of Three Arrows Capital, provides a trading exchange and an interest-bearing custody service for cryptocurrencies.

According to updated bankruptcy filings, FTX may have more than 1 million creditors, hinting at the enormous impact of its collapse on cryptocurrency traders and other counterparties with ties to Bankman-Fried's empire.