FTX Group, operator of the Bahamas-listed cryptocurrency exchange FTX, filed for Chapter 11 bankruptcy, which allows for corporate reorganization. In a company statement, published his Twitter account also reports the resignation of the head of the FTX Group, Sam Bankman-Fried. John J. Ray III will succeed him in this position.
This step was preceded scandal around the crypto exchange FTX for liquidity problems, which caused the collapse of the FTT token of this exchange, and then bitcoin, whose prices have been updated for two years minimum, falling to $ 17.1-17.2 thousand The FTX itself in a matter of days transformed itself from a $ 32 billion structure into bankruptcy. November 11 Bahamas Securities Commission frozen the assets of the FTX operator, justifying it with the need to preserve the assets and stabilize the exchange.
The declaration of bankruptcy provides for a reorganization procedure for most of the companies that make up the FTX Group, and there are about 130, 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 retention of shareholder assets.”
