FTX files for bankruptcy, Bankman-Fried steps downEditor's note: This story is developing.Crypto exchange FTX and many of its affiliated companies have filed for Chapter 11 bankruptcy, the company announced on Friday, with FTX founder Sam Bankman-Fried stepping down as CEO.The Chapter 11 filing is the latest development in what has been a catastrophic week for the troubled exchange, which has rattled the crypto universe with contagion fears.The filing, likely the worst since the 2014 default of Mt.Gox, which at the time was the largest crypto exchange in the world, includes FTX US (West Realm Shires Services), trading firm Alameda Research, and approximately 140 affiliated businesses, according to the release.Though by no means the largest, FTX represented a fast-growing top contender crypto exchange, catching a $32 billion valuation as recently as January, thanks to funding from venture capitalists such as SoftBank, Temasek, LightSpeed Ventures, Tiger Global, Sequoia Capital, BlackRock as well as a host of crypto-specific firms."