One of the biggest and most influential companies in the cryptocurrency sector, FTX Group, announced on Friday that it had filed for bankruptcy in the US and that its CEO had quit.
Sam Bankman-Fried, the 30-year-old crypto genius behind the exchange, will stay on, according to FTX, to help with a smooth transition.
Included in the bankruptcy proceedings are FTX US, 130 other sister firms, and FTX’s cryptocurrency hedge fund Alameda.
