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The Texas Tribune
The Texas Tribune
National
Karen Brooks Harper

Crypto company that faces scrutiny from Texas regulators files for bankruptcy after competitor questioned its viability

Sam Bankman-Fried Crypto FTX Texas Beto ORourke FTX Trading FTX Group FTX US Texas Tribune
Sam Bankman-Fried, CEO and Founder of FTX, walks near the U.S. Capitol, in Washington, D.C., on Thursday, September 15, 2022. (Graeme Sloan/Sipa USA)No Use Germany.
Sam Bankman-Fried, CEO and Founder of FTX, in Washington, D.C., on Sept. 15. The crypto company announced Friday that it’s filing for bankruptcy, and Bankman-Fried has resigned. (Credit: Graeme Sloan/Sipa USA via REUTERS)

The cryptocurrency firm FTX Trading, a major digital asset exchange, has filed for bankruptcy, and its billionaire founder, Sam Bankman-Fried, has resigned as chief executive officer, the company announced Friday.

“I’m really sorry, again, that we ended up here,” Bankman-Fried said in a Tweet thread Friday. “Hopefully things can find a way to recover.”

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