mi-finance
- Nov 11, 2022
- 1 min read

Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy

Updated: Dec 6, 2022

Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the U.S., according to a company statement posted on Twitter. Bankman-Fried has also stepped down as CEO and has been replaced by John J. Ray III, though the outgoing chief will stay on to assist with the transition.

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