2 years ago
86
Sam Bankman-Fried, laminitis and main enforcement serviceman of FTX Cryptocurrency Derivatives Exchange, during an interrogation connected an occurrence of Bloomberg Wealth with David Rubenstein successful New York, US, connected Wednesday, Aug 17, 2022.
Jeenah Moon | Bloomberg | Getty Images
Sam Bankman-Fried's cryptocurrency speech FTX has filed for Chapter 11 bankruptcy successful the U.S., according to a company connection posted connected Twitter. Bankman-Fried has besides stepped down arsenic CEO and has been replaced by John J. Ray III.
Alameda Research and astir 130 further affiliated companies are portion of the voluntary proceedings.
It caps disconnected a tumultuous week for 1 of the biggest names successful the sector.
In the abstraction of days, FTX went from a $32 cardinal valuation to bankruptcy arsenic liquidity dried up, customers demanded withdrawals, and rival speech Binance ripped up its nonbinding agreement to bargain the company. FTX laminitis Sam Bankman-Fried admitted on Thursday that helium "f---ed up."
Anthony Scaramucci, the laminitis of SkyBridge Capital and short-time Trump communications director, flew to the Bahamas this week to assistance Bankman-Fried arsenic an capitalist and friend. When helium got there, helium says, it appeared beyond the constituent of a elemental liquidity rescue. He said helium didn't spot grounds of this mishandling erstwhile helium and different investors archetypal screened FTX arsenic a imaginable concern partner.
"Duped I conjecture is the close word, but I americium precise disappointed due to the fact that I bash similar Sam," Scaramucci said connected CNBC's Squawk Box Friday morning. "I don't cognize what happened due to the fact that I was not an insider astatine FTX."
This is simply a breaking quality story. Please cheque backmost for updates.
— CNBC's Jack Stebbins contributed to this report.
English (US) ·