Cryptocurrency exchange operator FTX files for bankruptcy
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The FTX Group, operator of the Bahamas-listed cryptocurrency exchange FTX, has filed for Chapter 11 bankruptcy, which allows for business reorganization. In a company statement, published on her Twitter account, the resignation of the head of the FTX Group, Sam Bankman-Fried, is also reported. He will be succeeded in this post by John J. Ray III.
This step was preceded scandal around the FTX crypto exchange due to liquidity problems, which caused the collapse of the FTT token of this exchange, and then bitcoin, the quotes of which were updated for a two-year minimum, dropping to $ 17.1-17.2 thousand. FTX itself in just a few days turned from a structure worth $ 32 billion into bankruptcy. November 11 Bahamas Securities Commission froze the assets of the FTX operator, justifying this by the need to preserve assets and stabilize the exchange.
The bankruptcy filing provides for a reorganization procedure for most of the companies that make up the FTX Group, and there are about 130 of them, as well as for Alameda Research, an investment company associated with the crypto exchange. The FTX Group said in a statement that the Chapter 11 bankruptcy procedure “will provide an opportunity to assess the situation and consider a process to maximize the preservation of shareholders’ assets.”
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