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Crypto company that faces scrutiny from Texas regulators files for bankruptcy after competitor questioned its viability

FTX’s collapse came after customers raced to cash out their deposits when a major competitor questioned its viability and declined to buy the company in a bailout deal.

Sam Bankman-Fried, CEO and Founder of FTX, walks near the U.S. Capitol, in Washington, D.C., on Thursday, September 15, 2022. (Graeme Sloan/Sipa USA)No Use Germany.

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