CEO Sam Bankman-Fried has resigned on Friday after FTX sought for bankruptcy protection. Its affiliated companies along with Alameda Research – Bankman-Fried’s hedge fund also filed for bankruptcy. Following this news, the company confirmed there was “unauthorized access” to its accounts and funds had disappeared.
FTX, founded in 2019 by Bankman-Fried grew rapidly and was most recently valued at $32 billion. Bankman Fried attracted big investors like Sequoia Capital, who described their interaction with Sam as likely “talking to the world’s first trillionaire.” Sequoia has written down its $213 million to…
