FTX Files For Chapter 11 Bankruptcy in US, Sam Bankman-Fried Resigns As Cryptocurrency Exchange’s CEO
In an official statement, the compnay also said that Sam Bankman-Fried has resigned as the cryptocurrency exchange's CEO. As per reports, John J. Ray III is likely to replace Bankman-Fried, who will "remain to assist in an orderly transition," the company said.
On Friday, cryptocurrency exchange company FTX said that it has filed for bankruptcy in the U.S. In an official statement, the company also said that Sam Bankman-Fried has resigned as the cryptocurrency exchange's CEO. The company said that Fried resigned following a liquidity crisis that forced a sudden unraveling of the exchange at one point worth $32 billion. As per reports, John J. Ray III is likely to replace Bankman-Fried, who will "remain to assist in an orderly transition," the company said.
FTX Crypto Exchange Files for Chapter 11
Press Release pic.twitter.com/rgxq3QSBqm
— FTX (@FTX_Official) November 11, 2022
(The above story first appeared on LatestLY on Nov 11, 2022 08:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
