Major crypto exchange goes bust ...News

FTX announced the launch of bankruptcy proceedings via Twitter on Friday Cryptocurrency exchange FTX has commenced voluntary bankruptcy proceedings in the US, the platform announced on Friday. The company will begin “an orderly process to review and monetize assets for the benefit of all global stakeholders,” FTX said in a statement on Twitter. Chief Executive Sam Bankman-Fried resigned, and a new CEO, John J. Ray III, was appointed, the exchange added. The announcement comes days after larger rival Binance abandoned plans to acquire FTX and left the exchange with the task of raising roughly $9 billion from invest

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