On November 11, 2022, the world’s second-largest cryptocurrency change FTX Buying and selling Ltd. filed a petition for reduction underneath Chapter 11 of the Chapter Code within the Chapter Court docket for the District of Delaware (Case No. 22-11068). The corporate reviews $10 to $50 billion in each property and liabilities and intends to put a further, roughly 130 associates into chapter 11. The corporate’s founder and former CEO Sam Bankman-Fried resigned his place shortly earlier than the chapter submitting.
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