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Crypto exchange FTX expects to have more than 1m creditors

Bankruptcy filing says ‘questions arose’ about founder Sam Bankman-Fried’s leadership

The collapsed crypto exchange FTX expects to have more than 1 million individual creditors, the company has said in its first bankruptcy filing, scattered across more than 100 companies in the wider group.

According to the filing at the bankruptcy court in the US state of Delaware, where FTX US is based, Sam Bankman-Fried, the founder and chief executive, stepped down at 4.30am on Friday, “after consultation with his own legal counsel”.

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