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<ul><li>FTX commences voluntary Chapter 11 proceedings in the United States</li><li>Sam Bankman-Fried has resigned his role as a CEO and remain to assist in orderly transition</li><li>subsidiaries not included in Chapter 11 proceedings:Ledgerx.LLC, FTX Digital Markets, LTD, FTX Australia, and FTX Express Pay</li></ul><p>The company says:</p><ul><li>The Chapter 11 filing is a necessary step to develop plans to move forward</li></ul><p>The price of <a href="https://www.forexlive.com/terms/b/bitcoin/" target="_blank" id="40c895b3-a119-446c-9ead-2735a79a3f80_1" class="terms__main-term">Bitcoin</a> is trading at $16,800 down $750 or -4.27%.</p><p>The FTX token FTT is trading at $2.39 down $0.95 or -28.37%. (why is it trading at a level?). Down at $1.82 now...</p>

                This article was written by Greg Michalowski at forexlive.com.