Sam Bankman-Fried Talks With Justin Sun To Raise Funds Next Week: Reuters

Sam Bankman-Fried’s FTX will raise funds next week with the help of advisor Huobi, according to Reuters, citing an internal memo.

The announcement comes a day after FTX failed to sell itself to competitor Binance. Both the exchange and its token, FTT, have fallen into crisis. At the time of writing, FTT is trading at $3.38, a “significant” rebound today.

Sam Bankman-Fried, the founder of FTX, stated that he had spoken with Sun about fundraising in the memo cited by Reuters. Justin Sun also previously issued a “signal” to rescue SBF’s exchange.

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