Crypto Exchange FTX Files Bankruptcy, Know Loss


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FTX goes bankrupt Cryptocurrency exchange FTX has filed for bankruptcy in the US. FTX has sought protection from the court, FTX says the company is currently looking for a way to return the money to users. The company says its previous boss and founder Sam Bankman-Fried has also stepped down as chief executive, adding to the problem.

Crypto exchange FTX filed bankruptcy, know the loss

Sam Bankman-Fried has bad days

The past few days have been very bad for 30 year old Sam Bankman-Fried, Sam was running the world’s second largest crypto exchange, but in just 1 week his world’s second largest crypto exchange has completely collapsed. After this incident, people’s trust in the crypto market has completely collapsed.

“I’m really sorry this happened. Hopefully a way will be found to fix things,” tweeted Sam Bankman-Fried, who is nicknamed the ‘King of Crypto’ on Twitter.

Crypto exchange FTX filed bankruptcy, know the loss

Sam Bankman-Fried was the people’s choice

Bankman-Fried was one of the biggest stars in the crypto world before the recessionary scare. Many experts also called him the Warren Buffet of crypto. His net worth was more than 15 billion dollars. Bankman-Fried, short on cash, tried to organize a bailout but was unsuccessful, leaving FTX unable to raise billions of dollars. Many customers were completely unable to access their money.

Crypto exchange FTX filed bankruptcy, know the loss

The past few days have been very bad for 30 year old Sam Bankman-Fried, Sam was running the world’s second largest crypto exchange, but in just 1 week his world’s second largest crypto exchange has completely collapsed.

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Crypto exchange FTX filed bankruptcy know the loss

Cryptocurrency exchange FTX has filed for bankruptcy in the US.





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