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Cryptocurrency platform FTX has filed for bankruptcy protection, resulting in the resignation of CEO Sam Bankman-Fried. With over 100,000 creditors and significant assets and liabilities, it marks the largest crypto-related bankruptcy to date. FTX's downfall has been swift, erasing billions of equity value and leaving investors with substantial losses. The bankruptcy has also triggered investigations, asset freezes, and disruptions in the crypto industry. FTX US, a smaller unit operating in the US, is among the affiliates seeking bankruptcy protection.
Friday, 11 November, 2022