Crypto giant FTX files for bankruptcy after $32B collapse: Vegan CEO Sam Bankman-Fried, 30, resigns in disgrace in the face of SEC probe as lawyer who oversaw Enron liquidation takes over

  • FTX filed for Chapter 11 bankruptcy proceedings on Thursday, following a spectacular financial collapse
  • The crypto exchange was the world’s fourth largest and recently valued as high as $32 billion
  • CEO Sam Bankman-Fried resigned amid allegations that he mishandled customer funds
  • SEC is probing reports that FTX misappropriated customer deposits to pay for risky hedge fund bets  

By Keith Griffith For

Published: 09:29 EST, 11 November 2022 | Updated: 13:15 EST, 11 November 2022

FTX, the troubled cryptocurrency exchange, has filed for bankruptcy after a stunning financial implosion exposed concerns about its handling of customer funds and rocked broader crypto markets.

The Bahamas-based company, recently valued as high as $32 billion, said on Friday morning that it and its associated firms will file for Chapter 11 bankruptcy proceedings in federal court in Delaware.

Embattled FTX founder and CEO Sam Bankman-Fried has resigned his role and will remain in an advisory role to assist in an ‘orderly transition’, the company said.

For full story from original source:

Holdings Adding to Yesterday’s Gains

(24/7 MARKET NEWS) – Holdings, Inc. (NASDAQ: SNTG) is trading at $4.94, up $1.90 (+62.50%), on over 1 million shares and has blown through all its recent resistance levels.

It closed yesterday at $3.04, up $0.62 (+20.46%), on 615,158 shares.

Its 52-week range is $2.62 to $37.60, with key inflection points being this morning’s premarket high of $5.40., $5.75 and $6.10.

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