Troubled Crypto Exchange FTX Files for Chapter 11 Bankruptcy Protection, CEO Steps Down

The embattled crypto exchange FTX has informed the public that the FTX parent firm West Realm Shires Services, Alameda Research, and approximately 130 additional affiliated companies have filed for Chapter 11 bankruptcy protection in Delaware. FTX’s Parent Company, Alameda Research, and 130 Associated Firms Voluntarily Commence Bankruptcy Proceedings After days of confusion and speculation, the firm FTX has announced it has filed for Chapter 11 bankruptcy in the U.S., according to a Twitter statement. The letter details that West Realm Shires Services (FTX International’s parent firm), Alameda Research, and approximately 130 additional affiliated firms have commenced voluntary proceedings. Sam Bankman-Fried