Amy Wu, an investor in FTX and the pinnacle of the agency’s enterprise capital arm, FTX Ventures, has reportedly resigned her place.
In response to a Nov. 11 report from The Info, Wu resigned as head of FTX Ventures following the announcement FTX could be shifting ahead with chapter proceedings in the US. In response to her LinkedIn profile, Wu had been primarily based 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 dad or mum firm’s liquidity disaster and take care of Binance falling aside. Wu mentioned 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.
Fact. Must replace my linkedin
— Amy Wu (@amytongwu) November 9, 2022
Wu’s resignation adopted the information 134 corporations related to the FTX Group — together with FTX Buying and selling, FTX US and Alameda Analysis — could be submitting for chapter underneath Chapter 11 within the District of Delaware. Sam Bankman-Fried resigned as CEO in the identical announcement, however mentioned “this does not essentially must imply the top for the businesses.”
As a $2-billion enterprise capital fund aimed toward investments in Web3 initiatives, FTX Ventures backed initiatives 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 mentioned on the time the 2 companies had been nonetheless operating at “arm’s size.”