Business

Ex-FTX CEO says he didn't 'knowingly' misuse clients' funds

The former CEO of the failed cryptocurrency exchange FTX said Wednesday that he did not "knowingly" misuse customers' funds, and said he believes his millions of angry customers will eventually be made whole.

Business

House panel to hold hearing on crypto exchange FTX collapse

Lawmakers plan to investigate the failure of FTX, the large crypto exchange that collapsed last week and filed for bankruptcy protection, leaving investors and customers staring at losses that could total in the billions ...

Business

Stellantis China Jeep joint venture to file for bankruptcy

A Chinese joint venture producing Jeep SUVs for Stellantis will file for bankruptcy, the European carmaker said Monday, after its chief executive complained earlier this month political tensions with the West were affecting ...

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Bankruptcy

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).

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