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Breaking: FTX Exchange Files For Bankruptcy

Posted on by admin
11
Nov

In a major development, FTX has officialy filed documents for claiming bankruptcy.

In a few days, FTX went from a $32 billion valuation to bankruptcy as liquidity dried up, customers demanded withdrawals, and rival exchange Binance ripped up its non-binding agreement to buy the company.

The voluntary procedures involve Alameda Research and over 130 additional connected firms.

Read More: SBF Was Seeking $9.4 Billion As Rescue Package for FTX

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Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has covered it all.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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