FTX has filed for Chapter 11 Proceedings in america. This follows the fiasco over the previous couple of days the place the corporate did not honor its buyer’s withdrawal requests.
- In a press launch shared minutes in the past, FTX introduced that the group shall be submitting for Chapter 11 Proceedings in america.
- Based on the discharge, FTX, Alameda Analysis, in addition to 130 further affiliated corporations which can be related to FTX, have commenced the voluntary proceedings underneath Chapter 11.
- Sam Bankman-Fried has resigned as CEO.
- Commenting on the matter was the newly-appointed CEO of FTX Group – John J. Ray III, who mentioned:
The rapid aid of Chapter 11 is suitable to offer the FTX Group the chance to evaluate its state of affairs and develop a course of to maxmize recoveries for stakeholders. The FTX Group has beneficial property that may solely be successfully administered in an organized, joint course of.”
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