Amy Wu a former partner at Lightspeed Venture Partners announced her resignation from FTX Ventures on Friday.
Amy Wu, an FTX investor is said to have left her post. The Information reported on November 11 that Wu left his position as Head of FTX Ventures when it was revealed that the Crypto exchange would proceed with bankruptcy procedures in the United States.
Wu had been working out of FTX Venture’s offices in The Bahamas since January, according to her LinkedIn profile.
Wu proposed updating her LinkedIn page for new job options at the time, stating on Twitter that she was learning about developments affecting the company at the same time as everyone else through social media.
Wu’s resignation came as a result of the announcement that 134 FTX Group firms, including FTX Trading, FTX US, and Alameda Research, would be filing for Chapter 11 bankruptcy in the District of Delaware.
In the same announcement, Sam Bankman-Fried announced his resignation as CEO but said, “This doesn’t necessarily have to signify the end for the companies”. LayerZero Labs was one of the initiatives sponsored by FTX Ventures, a $2 billion venture capital fund that also acquired a 30% share in SkyBridge Capital.
During the crypto bad market in August, the company apparently acquired Alameda Research’s venture capital activities. At the time, Wu claimed that the two businesses continued to operate “at arm’s length.”