to the demise of the Lehman Brothers in 2008, as well as the downfalls of Theranos and Enron.
FTX filed for Chapter 11 bankruptcy on Friday after failing to secure emergency funding. The same day, Bankman-Fried stepped down as CEO of the company, hemorrhaging 94% of his net worth in the process, and admitting he failed to properly assess the company's debt. Early Saturday morning, FTX announced it was investigating a potential hack tied to"abnormal" withdrawals estimated to be worth hundreds of millions.Also over the weekend,
that the beleaguered founder fled for Argentina on his private jet, which Bankman-Fried denied in a text message to Reuters, stating he was currently in the Bahamas. FTX did not immediately respond to Insider's request to comment on the police investigation.Subscribe to push notifications
They're coming....
It was industry trends that drove him out of business
Donated 40mil of stolen funds to the Dems for the midterms! Will there be an investigation? Nope!
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