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FTX, FTX US, And Alameda File for Chapter 11 Bankruptcy in US

Within a week, crypto exchange FTX has gone from proposing an acquisition by Binance to sort out its liquidity issues to filing for bankruptcy under Chapter 11 in the District of Delaware.

In a Nov. 11 tweet, FTX said roughly 130 companies in FTX Group including FTX Trading, FTX US — under West Realm Shire Services — and Alameda Research had started proceedings to file for bankruptcy in the United States. FTX CEO Sam Bankman-Fried has also resigned his position, and will be succeeded by John Ray.

According to the filing, LedgerX, FTX Digital Markets — the group's subsidiary in the Bahamas — FTX Australia, and FTX Express Pay will not be parties to the bankruptcy proceedings.

FTX Alameda
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