The FTX cryptocurrency exchange has filed for bankruptcy. The exchange’s founder and CEO, Sam Bankman-Fried, has resigned. As of early 2022, FTX was valued at $32 billion and its founder was worth $17 billion.
One of the world’s largest cryptocurrency exchanges, FTX, has filed for bankruptcy, Bloomberg reports. The Exchange may continue to operate as long as it works to meet its financial obligations to creditors.
FTX founder Sam Bankman-Fried has resigned as CEO of the exchange. His fortune at the beginning of 2022 was estimated at $17 billion, the exchange itself was estimated at $32 billion.
In November, FTX ran into trouble following a CoinDesk investigation that revealed the exchange’s inability to meet its obligations. Investors began to withdraw money from the exchange, the prices of the FTX FTT token fell.
The FTX cryptocurrency exchange was going to be bought by the Binance exchange, but it ultimately backed out of the deal.
Author:
Kirill Bilyk
Source: RB
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