Most Crypto stocks crashed in morning trading after FTX has filed for bankruptcy.
Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the U.S., according to a company statement posted on Twitter. Bankman-Fried has also stepped down as CEO and has been replaced by John J. Ray III, though the outgoing chief will stay on to assist with the transition.
Alameda Research and approximately 130 additional affiliated companies are part of the voluntary proceedings.
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