Amy Wu, an investor in FTX and the pinnacle of the agency’s enterprise capital arm, FTX Ventures, has reportedly resigned her place.
In line with a Nov. 11 report from The Data, Wu resigned as head of FTX Ventures following the announcement FTX can be transferring ahead with chapter proceedings in the US. In line with her LinkedIn profile, Wu had been based mostly at FTX Enterprise’s workplaces in The Bahamas since January.
FTX Ventures’ web site together with that of Alameda Analysis went darkish on Nov. 9 amid its guardian firm’s liquidity disaster and take care of Binance falling aside. Wu stated on Twitter on the time that she was studying about occasions affecting the corporate similtaneously everybody else by social media, and steered she would replace her LinkedIn profile for brand spanking new job alternatives.
Reality. Must replace my linkedin
— Amy Wu (@amytongwu) November 9, 2022
Wu’s resignation adopted the information 134 firms related to the FTX Group — together with FTX Buying and selling, FTX US and Alameda Analysis — can be submitting for chapter below Chapter 11 within the District of Delaware. Sam Bankman-Fried resigned as CEO in the identical announcement, however stated “this does not essentially must imply the tip for the businesses.”
Associated: FTX US resigns from the Crypto Council for Innovation
As a $2-billion enterprise capital fund geared toward investments in Web3 tasks, FTX Ventures backed tasks together with LayerZero Labs and bought a 30% stake in SkyBridge Capital. In August, the agency reportedly absorbed the enterprise capital operations of Alameda Analysis amid the crypto bear market. Wu stated on the time the 2 corporations had been nonetheless operating at “arm’s size.”
