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Bankman-Fried Resigns From FTX, Puts Empire in Bankruptcy

  • Filings span 130 entities, such as, FTX US and Alameda
  • Bankman-Fried steps down as chief executive officer of FTX
Bloomberg business news
FTX Fallout: What Happens to Crypto Space Now?
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Sam Bankman-Fried’s digital-asset empire filed for Chapter 11 bankruptcy, capping the downfall of one of crypto’s wealthiest and most influential moguls and his collection of high-flying ventures including exchanges and a massive trading operation. 

More than 130 entities tied to, FTX US and trading firm Alameda Research Ltd. were listed in filings at federal court in Delaware, with the Alameda petition listing assets and liabilities of at least $10 billion each. That easily makes it the biggest bankruptcy in the US this year, affecting investors and other counterparties around the world.