Reports Claim Beleaguered Crypto Exchange FTX Seeks Over $9 Billion From Investors

On Nov. 10, 2022, 2 reports said that FTX CEO Sam Bankman-Fried (SBF) is canvassing for exigency funds up to $9.4 cardinal for the embattled exchange. One study says that SBF has solicited crypto companies similar Tether, OKX, and Tron laminitis Justin Sun arsenic well.

FTX Is Reportedly Seeking Up to $9.4 Billion successful Funding

While FTX CEO Sam Bankman-Fried (SBF) updated the crypto assemblage and said that helium and his squad would beryllium seeking funds from investors, 2 reports accidental SBF is seeking up to $9.4 cardinal successful financing.

A Wall Street Journal (WSJ) report says “people acquainted with the matter,” assertion SBF has been asking investors for astir $8 billion. The study further says that SBF hopes to rise “as overmuch arsenic $3 cardinal to $4 billion” from investors.

Later successful the day, Reuters reported that SBF has been canvassing for astir $9.4 billion. Reuters said a “person with nonstop cognition of the matter” told the quality work the information. Reuters tech newsman Anirban Sen wrote:

Bankman-Fried is discussing raising astir $1 cardinal from crypto-token Tron laminitis Justin Sun, $1 cardinal from cryptocurrency speech OKX, $1 cardinal from cryptocurrency steadfast Tether, and $2 cardinal from a consortium of concern funds, the root said.

The quality follows Tether reportedly freezing much than 46 cardinal tethers astatine the petition of instrumentality enforcement. Furthermore, different reports noted that the Singaporean authorities holding institution owned by the authorities of Singapore, Temasek Holdings, has been engaging with FTX. Temasek superior helped money FTX during the company’s Series B and C backing rounds.

Tron laminitis Justin Sun has been vocal about helping FTX and Sun elaborate that steps were being taken “towards a wholistic solution that is being crafted to resuscitate and instrumentality to normalcy for each FTX users.” Binance’s CEO Changpeng Zhao (CZ) initially said Binance would get FTX, but Binance backed out of the woody aft citing “mishandled lawsuit funds.”

Blockworks newsman Michael Bodley reports that “three sources acquainted with the matter” person said that FTX has sought assistance from the backstage equity steadfast Apollo Global. The institution Apollo Global held 512.8 cardinal USD successful assets nether absorption (AUM), according to information recorded connected March 31, 2022.

FTX announced connected Nov. 10, 2022, astatine 12:48 p.m. (ET) that it established a Tron recognition facility. “We are pleased to denote that we person reached an statement with Tron to found a peculiar installation to let holders of TRX, BTT, JST, SUN, and HT to swap assets from FTX 1:1 to outer wallets,” the speech elaborate connected Thursday afternoon.

What bash you deliberation astir the reports that accidental SBF is seeking up to $9.4 cardinal from investors to assistance resuscitate FTX? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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