platform cryptocurrencies FTX has declared in failed in a statement on Twitter this Friday. After days immersed in one liquidity crisis prompted by the massive withdrawal of funds by its customers, the Bahamas-based company has decided to take advantage of the bankruptcy law of the United States, known as ‘Chapter 11’, in a gesture to try to save the assets available from the company. The decision implies that FTX, Alameda Research and about 130 subsidiaries of the group will be accommodated in the US bankruptcy law. Shortly after the announcement, the value of bitcoin on the market has fallen by nearly 6% to 16,000 euros, 70% less than at the end of 2021 when it reached a record of 69,000 euros.
In the same statement, FTX has reported that Sam Bankman-Fried has resigned as CEO of the company. According to FTX, the leadership of the company will be assumed by John J. Ray III. “The immediate Chapter 11 discharge is appropriate to afford the FTX Group the opportunity to assess the situation and develop a process to maximize recovery for stakeholders,” Ray said.
Likewise, Ray has assured that the company will handle the situation with “diligence and transparency”, and has asked the injured parties to understand “that the events have occurred quickly” and that the new team has been incorporated “recently” .