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block bankmanfried ceo resigns after failure pepe unchain Bnb Eth XRP aave Bitcoin crypto futures

Why did Sam Bankman-fried resign?

The platform's founder and CEO Sam Bankman-Fried also resigned after he failed to raise billions to stave off collapse as traders rushed to withdraw $6 billion in just 72 hours. John J. Ray III, a restructuring expert who oversaw the liquidation of US energy giant Enron in 2001, has been appointed to take over as CEO.

What does the Bankman-fried resignation mean for cryptocurrency?

The filing represents a staggering turn for the cryptocurrency exchange, once reportedly valued at $32 billion and seen as the face of the industry thanks to its voluminous marketing and advertising efforts. The resignation of Bankman-Fried, 30, is stunning.

What happened to FTX CEO Sam Bankman-fried?

FTX filed for bankruptcy and announced the resignation of CEO Sam Bankman-Fried on Friday, marking a stunning downfall for the 30-year-old billionaire seen as one of the cryptocurrency sector’s most prominent figures.

Was Bankman-fried'shocked' by his firm's collapse?

Bankman-Fried, appearing at The New York Times Dealbook Summit, insisted in an interview conducted by CNBC anchor Andrew Ross Sorkin over a video call that he was "shocked" by his firm's collapse.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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