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Published 1 year ago

FTX: Crypto giant collapses into bankruptcy

Summary by Channel News Asia
Cryptocurrency exchange FTX said on Friday it was commencing bankruptcy proceedings in the United States and Sam Bankman-Fried is resigning from his role as chief executive officer. The move comes days after larger rival Binance walked away from a proposed acquisition and left it scrambling to raise about $9.4 billion.

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