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FTX Fulfills Tron Founder’s Promise

FTX Fulfills Tron Founder's Promise

In order to allow owners of TRX, BTT, JST, SUN, and HT to remove their assets from the platform, FTX announced on Thursday that it would open a Tron credit facility.

FTX confirmed to allow holders of “Justin Sun” coins (TRX, BTT, JST, SUN, and HT) to swap 1:1 for their respective assets outside of the exchange, starting from 06:30 PM November 10. Initially, the Tron team will transfer $13 million into the exchange to support swaps, further injections will be announced weekly.

The change occurred after Justin Sun, the creator of the Tron cryptocurrency network, openly entered the ongoing drama on Wednesday night.

While it’s been reported that FTX resumed client withdrawals on Thursday, the exchange has been in problems this week and continues to cause tremors across the cryptocurrency community as experts try to determine which organizations are exposed to it.

According to Reuters, Justin Sun is said to be in discussions with Sam Bankman-Fried to save the struggling exchange FTX next week.

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Harold

CoinCu News

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.