Justin Sun Says Is Probing FTX Acquisition Agreement

In a Friday interview with Bloomberg, Justin Sun, the creator of Tron, stated that his team is now conducting due diligence on a prospective acquisition of FTX.

First, Sam Bankman-Fried and Justin Sun agreed to permit FTX users to withdraw Tron tokens to improve liquidity and temporarily alleviate the present liquidity crisis. The FTX liquidity problem and demonstrating industry cooperation are the main driving forces for the action.

When asked if he was considering debt, equity options, or a full takeover, Justin Sun responded that safeguarding the cryptocurrency industry was his top priority.

FTX and Sun are still talking about strategies, such as how to deal with the liquidity crisis and future acquisitions. Although the procedure is still in progress, Sun stated that he doesn’t want to give anybody expectations.

Justin Sun stated he might think about putting his money into the prospective purchase. A settlement is doubtful right now, though, as SBF recently announced its resignation and filed for Chapter 11 bankruptcy on behalf of FTX, FTX US, and Alameda.

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