Tag: FTX Binance

FTX to file for U.S. bankruptcy protection, CEO Bankman-Fried resigns

FTX to file for U.S. bankruptcy protection, CEO Bankman-Fried resigns

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The announcements come days after larger rival Binance walked away from a proposed acquisition The announcements come days after larger rival Binance walked away from a proposed acquisition FTX will initiate bankruptcy proceedings in the United States while its Chief Executive Sam Bankman-Fried resigned, the embattled cryptocurrency exchange said on Friday, triggering what could be […]

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Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Behind FTX’s fall, battling billionaires and a failed bid to save crypto

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On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that FTX’s arch-rival, Binance, planned to mount a shock takeover of its main trading platform to save […]

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