Crypto Exchange FTX Files For Bankruptcy, CEO Resigns


FTX has filed for Chapter 11 bankruptcy.

The move includes FTX US, the group’s American subsidiary, which up to yesterday was believed to be solvent and able to keep running despite the international arm’s issues.

The company’s official Twitter account posted a press release on Friday morning detailing the decision, which also includes a resignation by CEO Sam Bankman-Fried.

SBF had been on the spotlight for a couple of years, amassing great media coverage as he led what became known as the FTX Empire. The name alluded to the many companies under the FTX umbrella, including Alameda Research, a quantitative trading firm founded by SBF.


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By akohad

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