After the greatest blowup in the cryptocurrency business prompted
calls for greater regulation, crypto exchange FTX
filed for U.S. bankruptcy protection on Friday
and its creator Sam Bankman-Fried resigned as CEO.
Traders hurried to remove $6 billion from the struggling cryptocurrency
trading platform in only 72 hours, while rival exchange Binance
abandoned a potential rescue arrangement this week
making it difficult for the company to raise billions to prevent collapse.