FTX Announces Bankruptcy, FTX CEO Resigns!
FTX announces bankruptcy, FTX CEO resigns! FTX, Alameda Research and 130 partners have filed for the voluntary Chapter 11 process in the United States. SBF resigned as CEO. FTX has filed for Chapter 11 proceedings in the United States. This follows the fiasco of two days ago where the company did not honor withdrawal requests from its customers. In a press release shared a few minutes ago, FTX announced that the group will file for Chapter 11 in the United States.
According to the release, FTX, Alameda Research, and 130 other affiliates of FTX, have begun the voluntary Chapter 11 process. Sam Bankman-Fried has resigned as CEO.
FTX CEO resigns! FTX groups news CEO, John J. Ray III said:
Immediate Chapter 11 relief is appropriate to give the FTX team an opportunity to assess its situation and develop a plan to maximize recovery for shareholders. An FTX group has valuable assets that can be better managed through a coordinated and coordinated approach.