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FTX Files for Bankruptcy; Sam Bankman-Fried Steps Down as CEO

Posted on AllSides November 11th, 2022
From The Center

Beleaguered cryptocurrency platform FTX filed for bankruptcy protection Friday—a swift demise for a company hailed as a trusted platform just a week ago.

In a statement, the company said Chief Executive Sam Bankman-Fried resigned from his position but would remain at the company to assist with an orderly transition. FTX said it would begin a process to review and monetize assets for stakeholders.

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