FTX Empire Goes Bankrupt in Sudden Fall of Bankman-Fried (1)

Sam Bankman-Fried’s digital-asset empire filed for Chapter 11 bankruptcy, capping the downfall of one of crypto’s wealthiest and most influential moguls and his collection of high-flying ventures including exchanges and a massive trading operation.

More than 130 entities tied to FTX.com, FTX US and trading firm Alameda Research Ltd. were listed in filings at federal court in Delaware, with the Alameda petition listing assets and liabilities of at least $10 billion each. That easily makes it the biggest bankruptcy in the US this year, affecting investors and other counterparties around the world.

Though Chapter 11 lets companies continue operating ...