Friday, 24 March, 2023

FTX Files For Bankruptcy As CEO Sam Bankman-Fried Resigns

<p>A corporate announcement published on Twitter by Sam Bankman-cryptocurrency Fried&#39;s exchange FTX claims that it has applied for Chapter 11 bankruptcy protection in the United States. Bankman-Fried has also resigned as CEO; John J. Ray III has taken over, and the departing CEO will continue on to help with the transition. A total of 130 further linked firms are involved in the proceedings, including FTX.us, the corporation&#39;s U.S. subsidiary, and Alameda Research.</p>