The millionaire inventor of the Tron blockchain, Justin Sun, stated late on November 9 that he is collaborating with FTX, the cryptocurrency exchange that needs to be saved from failure, on a solution.

Thought to be acquired by Binance, but recently this deal was canceled, FTX is struggling in extremely difficult times at the moment.

The founder of Tron and Huobi’s global advisor yesterday also announced that they would compensate and rescue those holding Sun’s coins, which are being held on FTX. But currently only withdrawing TRX from the platform.

A few hours later, Justin Sun announced that users could trade TRX, HT, JST, and SUN on FTX and was about to open withdrawals, causing users to rush to buy TRX and push up the price of this coin.

The acquisition of Huobi by About Capital Management’s M&A fund is thought to have been covertly orchestrated by the founder of Tron. He still refuted those rumors, saying he was just an advisor to the business. If Sun can “save” FTX, this will be a bigger deal than Huobi.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Website: coincu.com

Harold

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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Can Justin Sun Rescue FTX From Collapse?

The millionaire inventor of the Tron blockchain, Justin Sun, stated late on November 9 that he is collaborating with FTX, the cryptocurrency exchange that needs to be saved from failure, on a solution.

Thought to be acquired by Binance, but recently this deal was canceled, FTX is struggling in extremely difficult times at the moment.

The founder of Tron and Huobi’s global advisor yesterday also announced that they would compensate and rescue those holding Sun’s coins, which are being held on FTX. But currently only withdrawing TRX from the platform.

Further to my announcement to stand behind all Tron token (#TRX, #BTT, #JST, #SUN, #HT) holders on #FTX, we are putting together a solution together with #FTX to initiate a pathway forward. @FTX_Official

— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 10, 2022

A few hours later, Justin Sun announced that users could trade TRX, HT, JST, and SUN on FTX and was about to open withdrawals, causing users to rush to buy TRX and push up the price of this coin.

The acquisition of Huobi by About Capital Management’s M&A fund is thought to have been covertly orchestrated by the founder of Tron. He still refuted those rumors, saying he was just an advisor to the business. If Sun can “save” FTX, this will be a bigger deal than Huobi.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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