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FTX, FTX US and Alameda will file for Chapter 11 chapter in US; SBF resigns By Cointelegraph

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FTX, FTX US and Alameda will file for Chapter 11 chapter in US; SBF resigns

Inside per week, crypto alternate FTX has gone from proposing an acquisition by Binance to kind out its liquidity points to continuing with submitting for chapter beneath Chapter 11 within the District of Delaware.

In a Nov. 11 tweet, FTX stated roughly 130 corporations in FTX Group — together with FTX Buying and selling, FTX US, beneath West Realm Shires Companies, and Alameda Analysis — had began proceedings to file for chapter in the USA. FTX CEO Sam Bankman-Fried has additionally resigned from his place and will likely be succeeded by John Ray.