FTX has filed for Chapter 11 Proceedings in the United States. This follows the fiasco over the past couple of days where the company failed to honor its customer’s withdrawal requests.

• In a press release shared minutes ago, FTX announced that the group will be filing for Chapter 11 Proceedings in the United States.
• According to the release, FTX, Alameda Research, as well as 130 additional affiliated companies that are associated with FTX, have commenced the voluntary proceedings under Chapter 11.
• Sam Bankman-Fried has resigned as CEO.

This story is developing.

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