FTX’s desperate scramble for investors to repair its balance sheet has ended in bankruptcy.
With regulators around the world freezing the troubled exchange’s assets, it was only a matter of time.
Sam Bankman-Fried has resigned as CEO and is replaced by John J Ray III.
Ray said: “The immediate relief of Chapter 11 is appropriate to provide the FTX Group the opportunity to assess its situation and develop a process to maximise recoveries for stakeholders.”…
Read More: Crypto Prices Crash as FTX Declares Bankruptcy, SBF Resigns – Winners and Losers
With regulators around the world freezing the troubled exchange’s assets, it was only a matter of time.
Sam Bankman-Fried has resigned as CEO and is replaced by John J Ray III.
Ray said: “The immediate relief of Chapter 11 is appropriate to provide the FTX Group the opportunity to assess its situation and develop a process to maximise recoveries for stakeholders.”…
Read More: Crypto Prices Crash as FTX Declares Bankruptcy, SBF Resigns – Winners and Losers
