Get all your news in one place.
100's of premium titles.
One app.
Start reading
Fortune
Fortune
Chris Morris

Sam Bankman-Fried resigns as FTX files Chapter 11 bankruptcy

FTX Sam Bankman-Fried Crypto John J Ray III
(Credit: Ting Shen—Bloomberg via Getty Images)

Cryptocurrency exchange FTX filed for bankruptcy Friday morning, simultaneously announcing the resignation of founder and CEO Sam Bankman-Fried.

The voluntary Chapter 11 filing comes after the rapid and sudden collapse of the exchange, which saw $6 billion in withdrawal requests over three days, causing a liquidity crunch.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Jay-Z picks headliner for 2027 Super Bowl half-time show … Jay-Z
Rapper who has helped produce the Super Bowl show for years is stepping up to perform himself, at SoFi Stadium in California
The Guardian - AU
The Guardian - AU
2,000-year-old Roman emperor's marble torso sold for $34.26 million in October 2026
A stunning marble torso of a Roman emperor made headlines at an auction, fetching an astounding $34.26 million, breaking previous records. This remarkable piece, which was sold for only $7.36 million in 2010, showcases its enduring appeal. With its origins in ancient Rome, the sculpture highlights military honor and divine…
The Times of India
The Times of India
Fake Scarlett Johansson Quote? The Truth Behind Claims She Opposed LGBTQ Themes in Children's Cartoons
Fact-checkers found no credible evidence that Scarlett Johansson opposed LGBTQ themes in children's cartoons or faced a boycott over the alleged remarks, which circulated without a verifiable source.
International Business Times UK
International Business Times UK
Stanford prison experiment: why do controversial psychology studies still have such a hold on us?
Two of the most famous experiments in psychology, the Stanford prison experiment and Stanley Milgram’s obedience studies, have been called a sham, a lie and a fraud.
The Conversation
The Conversation
"Wicker" is much more than its weird sex
Olivia Colman and Alexander Skarsgård revive the simple tenderness missing from the big screen
Salon
Salon
'For Months I Couldn't Sleep': Taylor Swift Says Brad Paisley Filled Her Tour Bus With Thousands of Crickets
During her Nashville Songwriters Hall of Fame speech, Taylor Swift recalled Brad Paisley filling her tour bus with thousands of live crickets while she opened for him in 2007
International Business Times UK
International Business Times UK
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play