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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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Now that FTX is under regulatory scrutiny, may Crypto.com's CRO Coin be the next domino to fall?


The search for the next domino to fall is ongoing as margin calls and the terrible evaporation of collateral in the DeFi space continue to reverberate across hellish frequencies as the FTX saga enters its final and shameful inferno stage. Some believe that the CRO coin from Crypto.com is here to watch.

Sam Bankman-Fried (SBF), the creator of FTX, led a Ponzi scheme for Alameda Research, the trading division of his once-vast crypto enterprise. In effect, FTX sold its native FTT tokens to Alameda for dirt-cheap prices while simultaneously inflating the value of FTT by using a portion of its earnings to burn a small portion of the token's supply. Then, Alameda borrowed client cash from FTX and pledged their FTT tokens as security in order to use those funds to make leveraged bets. This contract came to an end after Alameda's exposure to the FTT token became known to the public, which caused Binance to start selling off its own FTT stock and cause the token's price to crash.

Clients attempted to leave the exchange that promoted Ponzi schemes as a result, causing a bank run, which ultimately led to FTX filing for bankruptcy on Friday.

The CRO coin from Crypto.com might be the next "great thing" to fail. LeClair specifically mentions the falling price of CRO, the entity's up to 5% yield on Bitcoin and 8.5 % on USDC, which indicates that the entity is probably selling some CRO coins to fund these high yields, and finally the potential for a balance sheet hole given that Crypto.com holds many smaller assets, such as a $500 million stake in Shiba Inu (SHIB).
As if things weren't already fragile enough, it appears that exchanges are supporting each other's proof-of-reserve announcements with covert lending. This raises the possibility of a bank run that would completely destroy the use of cryptocurrencies.

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