Posted on 11/11/22
| News Source: FOX Business
FTX filed for bankruptcy after a week of tumult for the cryptocurrency exchange, the company announced on Friday. Embattled CEO Sam Bankman-Fried has also resigned.
The Chapter 11 process will include Alameda Research, West Realm Series and 130 affiliated companies, according to the announcement.
The filing comes one day after Bankman-Fried apologized for the crisis in a series of tweets.
"I sincerely apologize," he said in a rapid series of 22 tweets on Thursday. He also promised to continue trying to save the company.