Cryptocurrency exchange FTX has fired three of its top executives, including co\u002Dfounder Gary Wang, the Wall Street Journal reported.
The other fired executives were engineering director Nishad Singh and Caroline Ellison, who ran FTX’s trading arm Alameda Research, the newspaper said.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
The U.S. bankruptcy proceedings involve multiple FTX group companies with more than 100,000, and possibly over 1 million, creditors.tap here to see other videos from our teamAccording to interviews with several people close to Bankman-Fried and company communications not previously reported, the company had been secretly taking risks with customer funds to prop up a trading firm owned by Bankman-Fried, which led to the company’s collapse.
The company had come under some regulatory oversight through the dozens of licenses it picked up via its many acquisitions. But that did not protect its customers and investors, who now face losses totaling billions of dollars. Several crypto firms have since been bracing for the fallout from the FTX collapse, with many counting their exposure in millions to the beleaguered exchange.
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FTX fires three of its top executives: ReportCryptocurrency exchange FTX has fired three of its top executives, including co\u002Dfounder Gary Wang, the Wall Street Journal reported.
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