TRON Founder Justin Sun Eyes Acquisition of FTX Assets

Founder of Tron Justin Sun It is reportedly evaluating the possibility of purchasing FTX assets. The failed exchange completed its first round of bankruptcy proceedings last week. According to Sun, the collapse of FTX could adversely affect the growth of the cryptocurrency industry.

Justin Sun Joined Ripple To Buy FTX Assets

Cryptocurrency entrepreneur and billionaire Justin Sun reportedly I am considering purchasing FTX assets. He said he was open to “all kinds of trades” and that “all options” were on the table, and Sun said his team was evaluating his FTX assets one by one. , said representatives of Tron and Huobi exchanges are in talks with his FTX group in the Bahamas. In addition, it is said that it will take some time as it is already in bankruptcy proceedings.

First, Sun announced his intention to save the exchange and worked with the FTX team to enable withdrawals and trading of tokens associated with him. Some crypto assets associated with Justin Sun include Tron (TRX), Just (JST), Sun (SUN), BitTorrent Token (BTT), and Huobi Token (HT).

He’s the latest crypto advocate to join a difficult corporate fortune. His CEO of Ripple, Brad Garlinghouse, recently expressed interest in acquiring some of the FTX assets. Garlinghouse said former FTX CEO Sam Bankman-Fried called two days before the company filed for bankruptcy, trying to rally investors to save the business. During the call, Ripple and his FTX discussed whether there are any of his FTX-owned businesses that Ripple would be interested in acquiring.

FTX bankruptcy proceedings

FTX just completed the first round of bankruptcy proceedings. The filing showed the bankrupt company owed about $3.1 billion to its 50 largest creditors, keeping the names of the creditors confidential.FTX is conducting a strategic review of its global assets. has announced that it is preparing to sell or reorganize certain businesses. This review seeks to maximize recoverable value for stakeholders.Failed Crypto Exchange FTX Could Have More Than That 1 million creditors.

Meanwhile, SBF’s successor, John J. Ray III, said that FTX’s regulated or licensed subsidiaries in the US and abroad have solvent balance sheets that could be sold or restructured to reduce losses. I have confirmed that TRON Founder Justin Sun Eyes Acquisition of FTX Assets

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