NEW YORK, Nov. 11, 2022 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating potential claims relating to crypto exchange platform FTX Trading LTD d/b/a FTX, FTX US, its founder and CEO Sam Bankman-Fried and Alameda Researcha related party cryptocurrency trading company.

If you are concerned by the recent revelations about FTX and would like to discuss our investigation, please contact us via email [email protected] or by calling (212) 687-1980.

On November 11, 2022, FTX issued a press release titled “FTX Group Companies Begin Voluntary Chapter 11 Proceedings in the United States; Begin an orderly process to review and monetize assets for the benefit of global stakeholders; John J. Ray III appointed chief executive officer; Sam Bankman-Fried resigns.”

The press release states that “FTX Trading Ltd. (dba FTX.com) announced today that it, West Realm Shires Services Inc. (dba FTX US), Alameda Research Ltd. and approximately 130 other affiliated companies (collectively, the “FTX Group”), have initiated a voluntary Chapter 11 process in the District of Delaware to begin an orderly process of asset review and monetization for the benefit of all global stakeholders.”

Mr. Ray, the newly appointed CEO, stated, “The immediate relief of Chapter 11 is appropriate to allow FTX Group to assess its situation and develop a process to maximize stakeholders’ returns. . . FTX Group has valuable assets that can only be managed effectively through an organised, collaborative process. I would like to assure all employees, customers, creditors, counterparties, shareholders, investors, government agencies and other stakeholders that we will conduct these efforts with care, thoroughness and transparency. Stakeholders should understand that events have changed rapidly and the new team has only recently been hired. Those affected should…