FTX US Resigns From the Crypto Council for Innovation
FTX US has resigned from the Crypto Council for Innovation, a Washington, D.C.-based trade association that lobbies on behalf of the crypto industry.
Until Thursday, FTX US was a member organization of the group, along with other major players in the crypto industry including crypto exchanges Coinbase and Gemeni and venture capital firm Andreesen Horowitz.
Before news of FTX's insolvency broke earlier this week, CEO Sam Bankman-Fried took an active role in lobbying lawmakers in Washington.
Bankman-Fried tweeted Thursday that while FTX had liquidity issues, FTX US was "100% liquid."
FTX US's logo has seemingly already been removed from the organization's website.
Read more: Washington, D.C.’s Buddy Sam Bankman-Fried Has Some Explaining to Do
UPDATE (Nov. 10, 2022, 17:30 UTC): Distinguishes FTX US and FTX.