Sam Bankman-Fried, co-founder at crypto trade FTX, tweeted Friday that he was “shocked to see items unravel the way they did,” right after he give up as main executive and the business and its associated entities submitted for individual bankruptcy.
See: Sam Bankman-Fried resigns as CEO of FTX as cryptocurrency trade information for Chapter 11 U.S. individual bankruptcy
The bankruptcy “doesn’t necessarily have to signify the conclude for the companies or their potential to supply benefit and resources to their shoppers chiefly, and can be reliable with other routes,” Bankman-Fried tweeted Friday.
Bankman-Fried has observed his internet really worth plunge to just about zero from $16 billion in fewer than a week, according to Bloomberg Billionaires index.
FTX was as soon as the 3rd major cryptocurrency exchange by investing quantity. Bitcoin
BTCUSD,
fell 3.4% Friday to close to $16,838, hovering at all-around a two-12 months low, in accordance to the CoinDesk details.
A agent at FTX didn’t answer to a request searching for comment.
