FTX, the world’s second largest cryptocurrency exchange, has filed for bankruptcy.
Struggling with a liquidity crisis for days, FTX finally filed for bankruptcy. announced. Parallel to the bankruptcy news Sam Bankman-Friedresigned as FTX CEO. CEO seat vacated by Sam Bankman-Fried John J Ray appointed. In a statement made by FTX executive Ray Article 11 The bankruptcy filing made as required was described as a necessary move for the progress of the process. FTX’s bankruptcy filing, FTX.usIt also includes .
The following statements were made by the stock exchange:
Immediate removal of Chapter 11 is appropriate to provide an opportunity to assess the status of FTX Group and develop a process for stakeholders to maximize recoveries.
In the statement, Alameda Research connected to FTX, including More than 100 corporate assets He was also said to have filed for bankruptcy.
Ray, the new CEO of FTX, suggested in his initial statements that FTX still has very valuable assets.
The bankruptcy process will be pursued with care and transparency. I guarantee this. Stakeholders should review the material in the case file in the coming days for more information.