Amy Wu Resigns From FTX Ventures as SBF’s Crypto Empire Unravels

InfoNesia.xyz – As the collapse of the FTX cryptocurrency exchange continues to send shockwaves across the industry, Amy Wu, a former partner at Lightspeed Venture Partners, told The Information on Friday that she has resigned from her position with FTX Ventures.

Wu’s resignation comes the same day FTX filed for Chapter 11 bankruptcy protection, and its founder Sam Bankman-Fried resigned as CEO amid allegations of fraud and the mismanagement of customer funds.

Wu joined FTX in January to lead its venture capital arm, which Bankman-Fried launched that same month with a $2 billion investment. Since then, FTX Ventures has been a part of several multi-million dollar deals.

“When I look at what company could potentially have the most impact in the industry, but then also in the world,” Wu told Decrypt at the time. “I think FTX is one of the most impactful that I’ve had the pleasure of working with.”

In March 2022, FTX Ventures invested $100 million in Dave, a financial services app, as part of a deal with crypto exchange FTX US that would enable the platform to begin offering cryptocurrency services.

FTX Ventures has also invested in Bored Ape Yacht Club creator Yuga Labs and games developer Faraway, makers of the Solana-based Mini Royale: Nations.

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