FTX was commencing bankruptcy proceedings in the United States and its Chief Executive Officer Sam Bankman-Fried has resigned, the crypto exchange said on Friday, in a spectacular collapse that will likely send shivers through the industry.May - Former Wall Street trader Sam Bankman-Fried and ex-Google employee Gary Wang founded FTX, the owner and operator of FTX.COM cryptocurrency exchange.September - FTX signed a sponsorship deal with Mercedes' Formula 1 team.
July 1 - FTX signed a deal with an option to buy embattled crypto lender BlockFi for up to $240 million. Aug. 19 - A U.S. bank regulator ordered FTX to halt"false and misleading" claims it had made about whether funds at the company are insured by the government. Nov. 6 - Binance CEO Changpeng Zhao said his firm would liquidate its holdings of FTT due to unspecified"recent revelations".Nov. 8 - Binance said it was planning a deal to acquire FTX.Nov. 10 - FTX suspended on-boarding of new clients as well as withdrawals until further notice
Source: News Formal (newsformal.com)
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