Cryptocurrency exchange FTX said on Friday that it has filed for bankruptcy, a fantastic one-week limit that has sent the crypto market up and caused a shock wave in the industry.
In a statement on Twitter, the company said FTX’s 30-year-old founder, Sam Bankman-Fried, had resigned. John J. Ray III has been appointed chief executive officer.
FTX crashed this week after a three-day deposit run led by the chief executive officer of its top rival, Binance, who posted tweets over the weekend questioning the stability of its business. .
This is a developing story. Check for updates again.
