By securing the winning bid of almost $1.4 billion for Celsius, FTX would be showing that it intends to save the loan company, just as it did with Voyager.
After the bankruptcy procedure is completed, FTX will acquire bankrupt Voyager's digital assets and allow Voyager's users to resume trading and storing their crypto holdings on the FTX platform.
Following a cooperation with FTX, GameStop is extending its push into cryptocurrency after introducing an NFT marketplace and wallet with the aid of Immutable X.
Shares of cryptocurrency and blockchain-related firms dropped on Friday after FTX, one of the biggest crypto exchanges, said it would initiate bankruptcy proceedings in the United States, triggering a potentially massive meltdown in the industry.
"Crypto exchange FTX files for bankruptcy as wunderkind CEO exits". Reuters. Retrieved 18 November 2022. ^ a b Michaels, Dave; Yu, Elaine; Ostroff, Caitlin (12 November 2022). "Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds".
Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users. Former boss Sam Bankman-Fried has also stepped down as chief executive, the company said. It is a massive turn of fortunes for the 30-year-old, who had headed the world's second largest crypto exchange.
On 11 November, Bankman-Fried announced that he had filed FTX US for bankruptcy along with FTX and Alameda. [66] Bankman-Fried continued to seek capital for FTX after the bankruptcy, and claimed without evidence that a potential backer had emerged soon after the filing. [65]
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