FTX Chapter 11 Bankruptcy and CEO Resignation

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FTX chapter 11 bankruptcy and CEO resignation. After a terrible week, crypto exchange FTX filed for the 11th capital and its CEO Sam Bankman-Fried resigned.

The FTX problem seems to have stopped. In a press release shared on Twitter, the crypto exchange announced that it has applied for the 11th capital “to start a system of asset monitoring and investment for the benefit of all stakeholders in the world.”

Alameda Research, the company’s sister algorithm trading firm, along with about 130 affiliated companies, will also file for bankruptcy.

Ledger X LLC, FTX Digital Markets Ltd., FTX Australia Pty Ltd. and FTX Express Pay Ltd. it is not included in the file. The note announced that the company’s CEO and founder, Sam Bankman-Fried, is stepping down. John J. Ray III was appointed director and worked with “independent experts” during the process.

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