According to the Wall Street Journal cryptocurrency exchange FTX has announced that it has fired three top aides of former CEO Sam Bankman-Fried.
Names Closest to FTX Ex-CEO Sam Bankman-Fried Fired
The newspaper reported late Friday, citing an FTX spokesperson, that Caroline Ellison, who heads Alameda Research, as well as FTX co-founder and chief technology officer Gary Wang and engineering director Nishad Singh, have been fired.
According to the report, the executives stepped down after FTX appointed John J. Ray to oversee the bankruptcy. The newspaper previously reported that executives were aware of the decision to send customer money to sister trading company Alameda.
The extraordinary collapse of 30-year-old Bankman-Fried’s crypto empire has accelerated the exits on global crypto exchanges. The collapse of Bahamas-based FTX, recently seen as one of the most trusted names in the industry, has raised new concerns about the loosely regulated nature of crypto companies.
Before his collapse, Bankman-Fried lived with his close circle of young disciples. Ellison, Wang and Singh were also included in this roster.
FTX’s irreversible moment may have occurred with a tweet by Ellison. Even though larger factors contributed to the overall collapse, a turning point was when Alameda’s CEO took to Twitter to prevent the fall in the FTT token.
A former Alameda employee said, “All their aim was to maximize their wealth. They never lived in a world where they didn’t take too many risks.” said.
*Not investment advice.
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