Claim Giveaway Token Proof of Reserve

Tron Founder Hints At A Possible Partnership With FTX

  • Tron’s founder Justin Sun hints at a potential partnership with FTX.

  • Earlier, Binance called off the acquisition deal due to multiple challenges.

  • FTX (FTT) token price dropped more than 30% in the last 24 hours.


10-Nov-2022 By: Rohit Tripathi
Tron Founder Hints A

FTX Chief Sam Bankman-Fried is currently in a difficult situation 

After Binance called off any prospective partnership with FTX. 

After Binance backed out, Tron founder Justin Sun hinted at a possible partnership with cryptocurrency exchange FTX.

The Tron founder stated that his team is working with all TRX holders on FTX as the crypto exchange confronts a massive liquidity shortage. He also stated that they are working with FTX to establish a "path forward."

Justin Sun alluded to a possible partnership with FTX in additional tweets. He wrote: "Despite its short-term nature, the continuous liquidity shortage is detrimental to industry development and investors alike."

He went on to say that “my team has been working nonstop to prevent future deterioration. I am confident that the crisis can be managed if we take a holistic approach with our partners. Stay tuned with TRON.”

The same post was retweeted by FTX Chief Sam Bankman-Fried. It will be fascinating to watch whether Justin Sun makes a prospective acquisition proposal for FTX. With the backing of titans like Binance, the hole on FTX and Alameda's balance sheets appears to be greater than predicted. 

Binance stated, "At first, we hoped to be able to assist FTX's customers in providing liquidity, however, the challenges are beyond our control or ability to assist."

FTX Chief Investigating All Options

As Binance called off the deal with FTX, Sam Bankman-Fried was forced to look for other potential investors. SBF stated in a message to FTX employees seen by a local media outlet:

“I'm working on the next phases as rapidly as I can. I wish I could provide more clarity than I can.” He went on to say that his primary goal is to safeguard his customers, as well as his employees and investments. SBF added: 

“I'll keep working for those (goals) as best I can for as long as it's appropriate for me to do so. I'm looking into all of my alternatives. I'm genuinely sorry for how we got here, and for my part in it. That's on me, and only me, and it stinks, and I'm sorry, which doesn't make it any better.”

Do you think TRON will acquire FTX in the near future? Share your views in the comment section below.

Read also: Largest Japanese Bank Plans To Offer Banking Services In Metaverse By 2023

WHAT'S YOUR OPINION?
Related News
Related Blogs