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in Economy

FTX to file for US bankruptcy protection, CEO Bankman-Fried resigns – business live

by Editor November 11, 2022, 3:14 pm 1.7k Views

FTX to file for U.S. bankruptcy protection, CEO Bankman-Fried resigns

Important developments in the crisis gripping the cryptocurrency sector.

Crypto exchange FTX has announced it is commencing bankruptcy proceedings in the United States, after efforts to arrange a rescue floundered.

Sam Bankman-Fried, founder of the company, is resigning from his role as chief executive officer. He’ll stay to help with an “orderly transition”.

New CEO John…