FTX, Exchange at the Heart of a Crypto Market Meltdown, Files for Bankruptcy

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FTX, the distressed cryptocurrency exchange at the heart of a recent meltdown in digital asset prices, has filed for bankruptcy.

In the span of less than a week, FTX has gone from being among the world’s largest and most important crypto trading venues to the latest in a long list of collapses in a volatile and unregulated industry. Sam Bankman-Fried, its founder and CEO, has seen his position as one of the most respected and trusted figures in the space evaporate just as quickly.