2 years ago
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Image source, Tom Williams
FTX founder Sam Bankman-Fried stepped down as chief executive on Friday.
Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users.
The company said that former boss Sam Bankman-Fried had also stepped down as chief executive.
It said the goal was to "begin an orderly process to review and monetize assets for the benefit of all global stakeholders".
The moves cap a week of huge turmoil for the company.
Earlier this week, customers rushed to withdraw their funds as rumours swirled that FTX and other firms headed by Mr Bankman-Fried were on shaky financial ground.
Mr Bankman-Fried tried to organize a bailout, hoping to be bought by Binance, a rival cryptocurrency exchange.
Mr Bankman-Fried had been one of the stars of the crypto scene, frequently speaking on behalf of the industry before regulators.
English (US)