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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
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BlockFi gets ready in case of bankruptcy

 

According to persons acquainted, BlockFi, which is financially connected to the now-bankrupt FTX, intends to fire employees and is considering declaring bankruptcy itself. Due to its significant holdings in FTX, which filed for bankruptcy on November 11 citing $8 billion in liabilities, BlockFi is getting ready to apply for Chapter 11 bankruptcy protection from its creditors.

According to statements made by BlockFi, FTX owed it money in addition to having sizable deposits with it and an undrawn line of credit. Receiving money from FTX is uncertain because the bitcoin exchange claimed last week in court that it might have more than one million debtors.

In the wake of FTX's collapse last week, which was caused by a report that questioned the exchange's financial sheet and money channelled to sister trading business Alameda Research, BlockFi suspended all user withdrawals.

BlockFi, a privately held company situated in Jersey City, New Jersey, was founded in 2017 and had a peak market value of $3 billion US in 2018.

Regarding a probable bankruptcy filing, BlockFi has not made any public remarks.

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