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Need to update my LinkedIn’ — FTX Ventures head resigns: Report

Need to update my LinkedIn’ — FTX Ventures head resigns: Report

Amy Wu, an investor at FTX and director of the firm’s venture capital arm, FTX Ventures, has reportedly resigned from her position. According to a Nov. 11 report by The Information, Wu resigned as head of FTX Ventures following the announcement. FTX would continue bankruptcy proceedings in the United States. According to his LinkedIn profile, Wu has been based at FTX Venture’s offices in the Bahamas since January. The FTX Ventures website closed along with the Alameda Research website on Nov. 9 during its parent company’s liquidity crisis and the collapse of Binance. Wu said on Twitter that he found out about events affecting the company via social media at the same time as everyone else and suggested updating them. 

Wu’s resignation followed news that 134 FTX Group-affiliated companies, including FTX Trading, FTX US and Alameda Research, would file for Chapter 11 bankruptcy in the District of Delaware. Sam Bankman-Fried resigned as CEO in the same announcement but said, “This doesn’t necessarily mean the end for corporate Capital.” In August, the company reportedly acquired Alameda Research’s venture capital operations amid the cryptocurrency bear market. Wu said the two companies were still operating “at arm’s length.”

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