Sam Bankman-Fried Resigns, FTX Files Bankruptcy

• 3 min read
Sam Bankman-Fried Resigns, FTX Files Bankruptcy

MARKET MOVERS

  • Sam Bankman-Fried steps down as CEO as his crypto exchange files for bankruptcy. FTX has filed for Chapter 11 bankruptcy* in the U.S., according to a company statement posted on Twitter. Bankman-Fried has also stepped down as CEO and has been replaced by John J. Ray III. Alameda Research and approximately 130 additional affiliated companies are part of the voluntary proceedings.
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