ftx says

exactly a day later ftx trading announced that it was filing for bankruptcyThe company’s CEO said on Saturday that “unauthorized access to certain assets has occurred.”

“In response, an active fact review and mitigation exercise was immediately launched,” John Ray said in a statement tweeted by the company’s general counsel. “We are in contact with, and coordinating with, law enforcement and relevant regulators.”

Reuters reported earlier on Saturday that analysts had observed that “hundreds of millions of dollars of assets” had been transferred from the platform “under suspicious circumstances”.

Ray’s statement also confirmed that the company is “in the process of removing trading and withdrawal functionality and moving a number of identifiable digital assets to a new cold wallet custodian.” It is making “every effort to secure all properties, wherever located”.

Ray was appointed the company’s new chief executive after founder and CEO Sam Bankman-Fried resigned on Friday.

Earlier in the week, the CEO of rival crypto exchange Binance, Changpeng Zhao, said that his company had struck a deal. get ftx, zhao skipped this step after a dayraising questions about the financial viability of FTX.

Bankman-Fried told a group of investors that the company needs about $8 billion to back up the crypto assets of its users. He also warned that the company may have to file for bankruptcy without an imminent infusion of cash.

FTX is the third crypto company to get bankruptcy protection this year, after Voyager Digital and Celsius Network. The filing also clouded the fortunes of BlockFi, a crypto lender that FTX helped bail out earlier this year with $400 million.

On Friday evening, Miami-Dade County and The Heat released joint statement In which they said they are “taking immediate action to terminate our business relationship with FTX,” and will seek a “new naming-rights partner.”

Christopher J. Brooks contributed to this report.

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