After Ripple’s Brad Garlinghouse, Tron’s Justin Sun Hints at Purchasing FTX Assets
According to a Nov. 22 article in The Wall Street Journal, Justin Sun, the founder of Tron (TRX), expressed his interest in purchasing FTX assets to journalists in Singapore.
The cryptocurrency pioneer revealed to the publication that his colleagues were currently going through the process of purchasing various assets from the troubled cryptocurrency exchange.
As of November 20, the cryptocurrency exchange FTX had a total cash balance of about $1.24 billion, according to a recent court document that CNBC reported.
Recent bankruptcy court papers show that FTX currently owes its largest creditors almost $3.1 billion.
“We are open to any kind of deal. I think all the options [are] on the table. Right now we are evaluating assets one by one, but as far as I understand the process is going to be long since they are already in this kind of bankruptcy procedure,” Sun said.
Sun noted that representatives from Huobi and Tron were now speaking with FTX in the Bahamas.
With this statement, the Huobi global adviser became the most recent crypto supporter to express interest in the assets of a troubled company.
Brad Garlinghouse, CEO of Ripple, recently disclosed that the cryptocurrency payment startup was considering buying certain FTX holdings.
Will Sun Aid FTX with billions?
When former CEO Sam Bankman-Fried was desperately looking for new capital for the exchange to avoid bankruptcy, Sun also showed that he was willing to provide FTX billions. SBF has knocked on a lot of doors in an effort to gather funds after the collapse.
Reuters reports that SBF has contacted Sun, the stablecoin platform Tether, and the competing exchange OKX.
Paolo Ardoino, CTO of Tether, has made it clear that the company has no plans to make an investment in or extend a loan to the troubled exchange.Source