Rise and fall of crypto exchange FTX

Published by
Reuters UK

(Reuters) – Crypto exchange FTX filed for Chapter 11 bankruptcy protection in the United States on Friday following its spectacular collapse that has sent shivers through the industry. The U.S. bankruptcy proceedings involve multiple FTX group companies with more than 100,000, and possibly over 1 million, creditors. Here is a history of FTX since its foundation in 2019: 2019: May – Former Wall Street trader Sam Bankman-Fried and ex-Google employee Gary Wang founded FTX, the owner and operator of FTX.COM cryptocurrency exchange. 2021: July – A $900 million funding round valued FTX at $18 billio…

Read More