FTX Files Chapter 11 Bankruptcy, SBF Steps Down as CEO

InfoNesia.xyz – The FTX crisis appears to have concluded.

In a press release shared on Twitter, the crypto exchange announced that it had filed for Chapter 11 bankruptcy “to begin an orderly process to review and monetize assets for the benefit of all global stakeholders.”

The firm’s sister entity algorithmic trading firm Alameda Research along with roughly 130 affiliated entities will also be filing for bankruptcy.

Ledger X LLC, FTX Digital Markets Ltd., FTX Australia Pty Ltd. and FTX Express Pay Ltd. have not been included in the filing.