Amy Wu, FTX investor and head of the company’s venture capital arm, FTX Ventures, has reportedly stepped down from her position.
Wu resigned from his position at FTX Ventures after FTX announced that it would continue to file for bankruptcy in the US, The Information reported on November 11. According to Amy Wu’s LinkedIn profile, she has been working at FTX Ventures in the Bahamas since last January.
The websites of FTX Ventures and Alameda Reserh went down on November 9 amid the liquidity crisis of its sister company and the Binance exchange abandoning the buyout deal. Wu then shared a post on Twitter and said that he learned about the events happening at the company at the same time as everyone else and that he needed to update his LinkedIn profile for new job opportunities.
Truth. Need to update my linkedin
— Amy Wu (@amytongwu) November 9, 2022
Wu’s resignation comes after 134 companies associated with the FTX Group, including FTX Trading, FTX US, and Alameda Research, filed for Article 11 bankruptcy with the Delaware district court. However, Sam Bankman-Fried announced his resignation from his CEO position in his bankruptcy filing announcement. Bankman-Fried also said, “This does not mean the end of companies.”
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At the time, FTX Ventures had set aside $2 billion to invest in Web3 projects. The company had backed many companies, including Zero Labs, and SkyBridge Capital had bought 30 percent of its shares. Last August, it was stated that the company gave its full attention to Alameda Research during the bear market. Finally, Wu stated that at the time, the two companies acted as if they had no relationship with each other.