Crypto giant FTX files for bankruptcy after $32B collapse: Vegan CEO Sam Bankman-Fried, 30, resigns in disgrace in the face of SEC probe as lawyer who oversaw Enron liquidation takes over
- FTX filed for Chapter 11 bankruptcy proceedings on Thursday, following a spectacular financial collapse
- The crypto exchange was the world’s fourth largest and recently valued as high as $32 billion
- CEO Sam Bankman-Fried resigned amid allegations that he mishandled customer funds
- SEC is probing reports that FTX misappropriated customer deposits to pay for risky hedge fund bets
By Keith Griffith For Dailymail.com
Published: 09:29 EST, 11 November 2022 | Updated: 13:15 EST, 11 November 2022
FTX, the troubled cryptocurrency exchange, has filed for bankruptcy after a stunning financial implosion exposed concerns about its handling of customer funds and rocked broader crypto markets.
The Bahamas-based company, recently valued as high as $32 billion, said on Friday morning that it and its associated firms will file for Chapter 11 bankruptcy proceedings in federal court in Delaware.
Embattled FTX founder and CEO Sam Bankman-Fried has resigned his role and will remain in an advisory role to assist in an ‘orderly transition’, the company said.
For full story from original source: https://www.dailymail.co.uk/news/article-11417351/Crypto-giant-FTX-files-bankruptcy-CEO-resigns-disgrace.html?ito=native_share_article-masthead
Holdings Adding to Yesterday’s Gains
(24/7 MARKET NEWS) – Holdings, Inc. (NASDAQ:SNTG) is trading at $4.94, up $1.90 (+62.50%), on over 1 million shares and has blown through all its recent resistance levels.
It closed yesterday at $3.04, up $0.62 (+20.46%), on 615,158 shares.
Its 52-week range is $2.62 to $37.60, with key inflection points being this morning’s premarket high of $5.40., $5.75 and $6.10.
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