Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for bankruptcy. The bankruptcy attributed to Alameda Research estimates the company owes mid-$10 to $50 billion in debt.
Sam Bankman-Fried resigns as FTX CEO
According to a company statement posted on Twitter, stock market founder and CEO Sam Bankman-Fried has officially resigned. FTX, which has suspended withdrawals, has filed for Chapter 11 bankruptcy in the US. According to the press release, Bankman-Fried stepped down as CEO. John J. Ray III will serve as the new CEO.
Press Release pic.twitter.com/rgxq3QSBqm
— FTX (@FTX_Official) November 11, 2022
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