FTX Declares Bankruptcy and Sam Bankman-Fried Resigns in Latest Crypto Blowup
RIP FTX. The company announced Friday morning that they were starting Chapter 11, AKA reorganizational bankruptcy proceedings. In addition, CEO Sam Bankman-Fried's other crypto firm, Alameda Research and Weste Realm Shires Services, which is also known as FTX.US, are also tangled up in the proceedings.