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News

FTX Wants To Raise $9.4 Billion To Get Out Of Crisis

November 11, 2022 - Around 1 mins mins to read
Sources from Reuters confirmed that FTX is in the process of calling for $ 9.4 billion to restore operations.
FTX Wants To Raise $9.4 Billion To Get Out Of Crisis

According to Reuters, SBF is said to be in discussions with Tron founder Justin Sun to raise $1 billion and exchange OKX to raise $1 billion. Along with that, Tether is also being called by FTX CEO for $1 billion and $2 billion from the consortium of investment funds.

There have been previous allegations that FTX will utilize user funds to fund Alameda loans before investing those funds at a loss in 2022 when the crypto market recovers and has a deficit of up to $10 billion.

CEO Sam Bankman-Fried emphasized that raising funds will be the main emphasis for the upcoming week in a statement to the staff.

As Coincu reported, SBF was discussing with Justin Sun to make the fundraising plan go smoothly.

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

FTX

Justin sun

OKX

Sam Bankman-Fried

Tether

Author

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.
News

FTX Wants To Raise $9.4 Billion To Get Out Of Crisis

Sources from Reuters confirmed that FTX is in the process of calling for $ 9.4 billion to restore operations.
FTX Wants To Raise $9.4 Billion To Get Out Of Crisis

According to Reuters, SBF is said to be in discussions with Tron founder Justin Sun to raise $1 billion and exchange OKX to raise $1 billion. Along with that, Tether is also being called by FTX CEO for $1 billion and $2 billion from the consortium of investment funds.

There have been previous allegations that FTX will utilize user funds to fund Alameda loans before investing those funds at a loss in 2022 when the crypto market recovers and has a deficit of up to $10 billion.

CEO Sam Bankman-Fried emphasized that raising funds will be the main emphasis for the upcoming week in a statement to the staff.

As Coincu reported, SBF was discussing with Justin Sun to make the fundraising plan go smoothly.

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