FTX founder Sam Bankman-Fried was reportedly interviewed by police in the Bahamas this weekend as investigations into the company's downfall intensify
to the demise of the Lehman Brothers in 2008, as well as the downfalls of Theranos and Enron.
FTX filed for Chapter 11 bankruptcy on Friday after failing to secure emergency funding. The same day, Bankman-Fried stepped down as CEO of the company, hemorrhaging 94% of his net worth in the process, and admitting he failed to properly assess the company's debt. Early Saturday morning, FTX announced it was investigating a potential hack tied to"abnormal" withdrawals estimated to be worth hundreds of millions.Also over the weekend,
that the beleaguered founder fled for Argentina on his private jet, which Bankman-Fried denied in a text message to Reuters, stating he was currently in the Bahamas. FTX did not immediately respond to Insider's request to comment on the police investigation.Subscribe to push notifications
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX founder Sam Bankman-Fried in the Bahamas as customers’ billions go missing in company collapseFTX underwent a $16 billion implosion amid reports that co-founder Sam Bankman-Fried had been funneling money to a sister trading company.
Read more »
Disgraced Sam Bankman-Fried Steps Down as CEO of FTXDisgraced FTX CEO Sam Bankman-Fried, who lost 94 percent of his entire $16 billion net worth in a matter of 24 hours, has officially stepped down.
Read more »
FTX founder Bankman-Fried denies fleeing to South America amid crypto collapseFTX founder Sam Bankman-Fried reportedly denied speculative reports that he had flown to South America after the cryptocurrency exchange filed for bankruptcy.
Read more »
Crypto firm FTX files for bankruptcy, Bankman-Fried exitsCrypto exchange FTX filed for U.S. bankruptcy proceedings on Friday and founder Sam Bankman-Fried stepped down as CEO, in a stunning downfall that has sent shock waves through markets and drawn calls for better regulation of the digital industry.
Read more »
Crypto billionaire Bankman-Fried resigns from FTX, puts empire into bankruptcyThe crypto wunderkind's $16-billion fortune has vanished along with his reputation as an industry savior and ambassador to Washington.
Read more »
The Epic Collapse of Sam Bankman-Fried's FTX Exchange: A Crypto Markets TimelineThe crypto speculation – seen in the CoinDesk Market Index (CMI) – kept shifting through key developments in the swift unraveling of Sam Bankman-Fried's FTX, Alameda Research and liqquidity report
Read more »