It’s true, Sam Bankman-Fried, CEO of cryptocurrency exchange FTX has filed for bankruptcy after Binance, who was one of the FTX’s earliest investors, walked away from a bailout.
“I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US,” Sam Bankman-Fried stated on Twitter Friday morning.
“I’m really sorry, again, that we ended up here,” he said in a following Tweet revealing that he was ” shocked to see things unravel the way they did earlier this week.”
On November 10, Bankman-Fried claimed that the liquidity crunch only impacted the FTX International and that the FTX US was “100% liquid.”
Based on the today’s bankruptcy filing, it turns out that FTX US was impacted as well. Announcement on FTX.com suggests users to close down positions they made through FTX US.
“Trading may be halted on FTX US in a few days. Please close down any positions you want to close down. Withdrawals are and will remain open,” reads the statement.
REad ALSO
Kevin O’Leary Interview: The Dagger That Finished Sam Bankman-Fried Off
Let’s be clear right off the bat. Kevin O’Leary thinks that the Senate hearing on the FTX crash, where he testified on December 14, 2022, allowed him to profess everything he wanted to. His overall impression was that he sensed a “frustration” starting to occur. “I think the legislators, the Senators, the Congressmen are tired…
Keep reading
Inside The First Congressional Hearing On FTX Collapse
Tuesday’s hearing on the FTX collapse was supposed to feature testimony from a former crypto billionaire Sam Bankman-Fried (SBF), but he was arrested on Monday evening in the Bahamans. According to the unsealed indictment by the Southern District of New York (SDNY), former CEO of FTX has been charged on eight counts including wire fraud,…
Keep reading
Sam Bankman-Fried Has Been Arrested And Is Awaiting Extradition To The US
Sam Bankman-Fried has been arrested today in the Bahamas, the Office of the Attorney General of the Bahamas has confirmed. Sam Bankman-Fried has been arrested by Bahamian police following a “receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.” The arrest…
Keep reading