FTX fires executives due to the collapse of the company, will the money be returned to customers?
FTX fires executives due to the collapse of the company, will the money be returned to customers?
2022.11.19 08:35
FTX fires executives due to the collapse of the company, will the money be returned to customers?
Budrigannews.com – FTX said it had fired top deputies, former chief executive Sam Bankman-Fried.
Caroline Ellison, who ran Alameda Research, Gary Wang, FTX’s co-founder and Nishad Singh, director, were dismissed, the newspaper said, citing an ftx spokeswoman. The paper did not say if it tried to reach the executive for comment.
According to the report, FTX was hired by John J. to oversee the bankruptcy.After appointing Ray, they left those roles. The newspaper had previously reported that executives were aware of the decision to send client money to sister trading company Alameda.
FTX Bankruptcy Bomb Squeezes Crypto Lenders Behind Bull Run
The epic collapse of 30-year-old Bankman-Fried’s crypto empire is fueling a surge in outflows across the world’s crypto exchanges. The collapse of Bahamas-based FTX has recently been widely recognized as one of the most trusted names in the field, but it is not surprising that the loosely regulated nature of crypto companies has led to the collapse of FTX.
Before his downfall, Bankman-Fried was framed in the Bahamas by his inner circle of equally youthful disciples of effective altruism, a charitable and philosophical movement that seeks to make the greatest impact by carefully spending money to solve problems. The cast included Ellison, Wang and Singh.
The point of FTX’s no return may have occurred in a tweet from Ellison. The overall collapse was caused by great forces, but zero hours came when CEO Alameda took to Twitter to prevent the plunge in the token FTT.
To be continue
