Embattled crypto exchange FTX files for bankruptcy

(AP)

Embattled cryptocurrency exchange FTX, short billions of dollars, is seeking bankruptcy protection following its collapse this week.

FTX Trading said in a press release on Friday that CEO and founder Sam Bankman-Fried has resigned. FTX also said Mr Bankman-Fried’s Alameda Research hedge fund is among the entities filing for Chapter 11 in Delaware.