TRON head says his readiness to help the FTX exchange
Justin Sun said this on Bloomberg News
11.11.2022 - 12:30
361
2 min
0
What’s new? On November 11, TRON blockchain founder Justin Sun said that he is ready to help the collapsed cryptocurrency exchange FTX, owned by Sam Bankman-Fried. According to Sun, this is a good way to show unity in the crypto industry, but full diligence is needed before this can be done. The entrepreneur told a Bloomberg News host, Tom Mackenzie.
@justinsuntron tells me he's prepared to provide FTX with billions in aid"need to do full diligence""good moment to show unity in crypto industry" @FTX_Official @SBF_FTX #exclusive https://t.co/B3wUUbx4gB
— Tom Mackenzie (@TomMackenzieTV) November 11, 2022
About the FTX and TRON situation. On November 9, crypto exchange Huobi and Justin Sun, who serves on its global advisory board, said that they were willing to provide a 1:1 exchange of TRX, BTT, JST, SUN, and HT tokens for FTX’s affected users if the platform could not do so itself. As a result, the rate of Huobi’s native token on FTX jumped by 581% per day. At the same time, on November 11 FTX disabled the ability to deposit all of the abovementioned tokens. Withdrawals from the exchange are also not available.
On the evening of November 10, Bankman-Fried pleaded guilty to the collapse of FTX. He talked about looking for partners to raise funds and keep the exchange running. Given that the FTX-affiliated company Alameda Research lost about $8 billion in client funds, Sun’s proposal may be the only option to save FTX.
To find out what withdrawal options traders currently have from FTX, check out GetBlock Magazine’s article.
Useful material?
Market
To advance crypto-friendly regulation, Trump’s party needs to win a majority in the Senate
Oct 18, 2024
Incidents
The regulator believes that the court erred in not recognizing retail sales of XRP as securities transactions
Oct 18, 2024
Market
The leader was the Solana network, with 100 million active addresses per month
Oct 17, 2024
Crypto regulations
Amendments to the regulation of financial institutions have been published for public discussion until October 30
Oct 16, 2024
Market
Over the past four years, the company’s shares have grown by 1540%, while the index has gained only 111%
Oct 16, 2024
Incidents
Over the last 24 hours, the asset has updated its all-time high at $2,34
Oct 15, 2024