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Breaking News: The FTX Group Declared Bankruptcy in the United States
Abstract：FTX is to start U.S. bankruptcy proceedings, and the CEO steps down.
Due to a liquidity crisis at the FTX Group that has prompted intervention from regulators around the world, this famous Crypto exchange announces bankruptcy filing in the United States, and the 30-year-old chief executive Sam Bankman-Fried, whose wealth was estimated by Forbes at around $17 billion just two months ago, will resign.
(Sam Bankman-Fried, former CEO of FTX )
Before that, FTX Group has been struggling to raise billions of dollars to avoid bankruptcy while facing increased regulatory scrutiny.
FTX, its affiliated crypto trading fund Alameda Research and about 130 other companies have initiated Chapter 11 voluntary bankruptcy proceedings in Delaware, the company said in a statement shared via Twitter on November 11, 2022.
(10:14 PM, Nov 11, 2022, FTX group released a statement on Twitter about its bankruptcy. See below.)
At this moment, John J Ray III has been appointed CEO of the group. And Bankman-Fried has resigned but will assist with an orderly transition.
According to some report, this event has hit an already struggling bitcoin and other tokens. Bitcoin fell below $17,000 at this time.
As many clients ask for withdrawals, FXT was scrambling to raise about $9.4 billion from investors and rivals.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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Hankotrade Exposed: Does it Harm Traders with Manipulated MT4 Chart and High Spreads & Slippage?
Have you witnessed a manipulated MT4 chart on Hankotrade login, showing inaccurate trading figures? Have you been victimized by high swap fees, inflated spreads, and massive slippage? Is the payment processing time too long at Hankotrade? Do you face downtime issues, especially when the New York trading session is on? These are some top complaints against the Belize-based forex broker. In this article, we have shared these complaints. Take a look!
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Cloudflare outage causes widespread disruption to broker websites and crypto platforms, highlighting risks in web infrastructure reliance.
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Switch Markets Review: Do Traders Face Deposit Discrepancies and Account-related Issues?
Do you fail to deposit your funds into the Switch Markets forex trading account? Earned profits, withdrew them too, but did Switch Markets block your deposits? Wanted to close your trading account due to payment-related issues, but in turn got your emails blocked by the Australia-based forex broker? Faced a negative trading account balance because of illegitimate trade order execution? Many traders have shared these stories about Switch Markets on broker review platforms. In this Switch Markets review article, we have mentioned the same. Read on!
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Having Trouble Getting Your Funds Out of IEXS? A Simple Guide to Delays and Solutions
Are you having trouble withdrawing funds from your IEXS account or facing delays getting your funds? Not being able to access your own capital is one of the most stressful situations any trader can face. It breaks down your basic trust with a broker. This isn't just annoying - it's a serious problem that can mess up your financial plans and cause a lot of worry. This guide goes beyond basic advice. We'll look at real user experiences and official regulatory information to give you clear answers. Our goal is to help you understand why IEXS withdrawal problems happen and show you practical steps you can take. We understand your concerns and want to give you the information you need to handle this tough situation.
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