Most of FTX's Legal and Compliance Team Quit: Report

Semafor, a news organization in which FTX's Sam Bankman-Fried invested, cites people familiar with the matter.

AccessTimeIconNov 9, 2022 at 5:31 p.m. UTC
Updated May 9, 2023 at 4:02 a.m. UTC
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The majority of FTX's legal and compliance team quit Tuesday, Semafor reported, citing people familiar with the matter.

That could create a headache as the cryptocurrency exchange deals with a liquidity crisis and potential regulatory scrutiny.

The Semafor story notes that FTX's Sam Bankman-Fried is an investor in the news organization.

A representative for FTX declined to comment.

Cheyenne Ligon contributed reporting.

UPDATE (19:43 UTC): Adds note that FTX declined to comment on the reports.

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