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Expected End: FTX Officially Announces Bankruptcy! CEO Left!

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Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for bankruptcy. The bankruptcy attributed to Alameda Research estimates the company has between $10 and $50 billion in debt.

Sam Bankman-Fried resigns as CEO of FTX

According to a company statement posted on Twitter, exchange founder and CEO Sam Bankman-Fried has officially resigned. FTX, which has suspended withdrawals, has filed for Chapter 11 bankruptcy in the US. According to the press release, Bankman-Fried stepped down as CEO. John J. Ray III will serve as the new CEO.

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