FTX files for Chapter 11 bankruptcy as CEO Sam Bankman-Fried resigns
by Richard Lawler from The Verge - All Posts on (#65QEX)
Illustration: The Verge Crypto's no-good, very bad 2022 got even worse as FTX (along with its international platform, the independent FTX.us exchange, and Alameda Research), previously the world's third-largest crypto exchange by volume, couldn't come up with the money to satisfy customers' withdrawal requests and then suffered an aborted acquisition attempt by a competitor.
Now, the company is filing for Chapter 11 bankruptcy in the United States while announcing that founder and CEO Sam Bankman-Fried has resigned from his post. Seamus Hughes pointed out that the bankruptcy filing itself is now available (pdf), and it lists a total of 134 corporate entities included in today's announcement, as well as the proposed appointment of crypto investor Stephen Neal...