On Friday, November 11, the FTX crypto -rope, which ranked fifth in circulation in the world and served more than 1.2 million customers, initiated bankruptcy in accordance with Articles 11 of the US Bankruptcy Code.
The company, as well as 130 of its subsidiaries, submitted a bankruptcy application to the Delaware court in order to begin the “streamlined process of evaluating and monetizing assets” in the interests of creditors, the report said. In the statement itself, FTX evaluates its obligations in the amount of 10 to 50 billion dollars, writes CNN.
The chief executive director of SAM Bankman-Frida, the company left his post after a cooled attempt to save his cryptoimperia. The world’s largest cryptocurrency exchange Binance refused to buy FTX, checking its balance and finding multi -billion dollar holes.
As Bankman-Frida himself stated, FTX requires $ 8 billion due to the mass withdrawal of funds by clients. In only four days at the beginning of the week, they took Bitcoins from an exchange for $ 430 million, 75% of all Ether coins and about 40% of stabilcoins, writes Bloomberg.
On Thursday, the regulator of the Bahamas, where the TFX was registered, froze part of its assets. “I am very sorry that it all ended,” wrote a 30 -year -old bankman -fried on Twitter. “I hope we will find a way to recover.”
“FTX collapse and bankruptcy is a cold shower for the crypto industry,” says Craig Johnson, chief analyst in Piper Sandler. On the news about the crash of the exchange on Thursday, the Bitcoin course pierced the 2nd bottom, falling in the moment below $ 16,000 per unit. After the rebound on Thursday, Bitcoin again fell in price on Friday – 8%, up to $ 16803