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Breaking News: The FTX Group Declared Bankruptcy in the United States
Abstract：FTX is to start U.S. bankruptcy proceedings, and the CEO steps down.
Due to a liquidity crisis at the FTX Group that has prompted intervention from regulators around the world, this famous Crypto exchange announces bankruptcy filing in the United States, and the 30-year-old chief executive Sam Bankman-Fried, whose wealth was estimated by Forbes at around $17 billion just two months ago, will resign.
(Sam Bankman-Fried, former CEO of FTX )
Before that, FTX Group has been struggling to raise billions of dollars to avoid bankruptcy while facing increased regulatory scrutiny.
FTX, its affiliated crypto trading fund Alameda Research and about 130 other companies have initiated Chapter 11 voluntary bankruptcy proceedings in Delaware, the company said in a statement shared via Twitter on November 11, 2022.
(10:14 PM, Nov 11, 2022, FTX group released a statement on Twitter about its bankruptcy. See below.)
At this moment, John J Ray III has been appointed CEO of the group. And Bankman-Fried has resigned but will assist with an orderly transition.
According to some report, this event has hit an already struggling bitcoin and other tokens. Bitcoin fell below $17,000 at this time.
As many clients ask for withdrawals, FXT was scrambling to raise about $9.4 billion from investors and rivals.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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INGOT Brokers Withdrawal Problems: 2025 User Alert - What You Need to Know
Discover the latest insights about INGOT Brokers withdrawal problems in 2025. Real user experiences, warning signs, and essential information for traders considering this platform.
Original 1m
InterTrader Exposed: Traders Report Unfair Account Blocks, Profit Removal & Additional Fee for Withd
Does InterTrader block your forex trading account, giving inexplicable reasons? Does the broker flag you with latency trading and cancel all your profits? Do you have to pay additional fees for withdrawals? Did the UK-based forex broker fail to recognize the deposit you made? Does the customer service fail to address your trading queries? In this InterTrader review article, we have shared such complaints. Read them out.
Original 22h
Grand Capital Doesn’t Feel GRAND for Traders with Withdrawal Denials & Long Processing Times
The trading environment does not seem that rosy for traders at Grand Capital, a Seychelles-based forex broker. Traders’ requests for withdrawals are alleged to be in the review process for months, making them frustrated and helpless. Despite meeting the guidelines, traders find it hard to withdraw funds, as suggested by their complaints online. What’s also troubling traders are long processing times concerning Grand Capital withdrawals. In this Grand Capital review segment, we have shared some complaints for you to look at. Read on!
Original Three days ago
ADSS Review: Traders Say NO to Trading B’coz of Withdrawal Blocks, Account Freeze & Trade Issues
Does ADSS give you plenty of excuses to deny you access to withdrawals? Is your withdrawal request pending for months or years? Do you witness account freezes from the United Arab Emirates-based forex broker? Do you struggle to open and close your forex positions on the ADSS app? Does the customer support service fail to respond to your trading queries? All these issues have become a rage online. In this ADSS Broker review article, we have highlighted actual trader wordings on these issues. Keep reading!
Original Three days ago
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