FTX Bankruptcy Proceedings Updates: Troubled crypto exchange on Friday announced it is going ahead with chapter 11 bankruptcy. In a announcement of the major decision, the company said FTX and Alameda Research commenced the bankruptcy proceedings. This effectively brings to an end Sam Bankman-Fried’s attempt to pool in capital to rescue the companies out of the liquidity crisis.
“FTX.com, Alameda Research and around 130 additional affiliated companies commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code.”
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