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News

Sam Bankman-Fried Still Tries To Raise Fund For FTX

November 16, 2022 - Around 2 mins mins to read
According to the Wall Street Journal, former FTX CEO Sam Bankman-Fried spent the past weekend soliciting investment commitments because he believes he can raise enough money to compensate users.
Sam Bankman-Fried Still Tries To Raise Fund For FTX

Specifically, the former CEO and some employees spent most of the weekend looking for investors to compensate for the loss of up to $8 billion.

However, this effort has so far yielded no results. It is unclear what Sam Bankman-Fried has committed to potential partners in exchange for cash, nor if any organizations have agreed to assist.

From 2021 to 2022, FTX has raised capital many times, with an amount of nearly $1.5 billion raised from many reputable funds. At the peak of early 2022, the exchange was valued at up to $32 billion.

Last week, FTX submitted a bankruptcy petition. Sam Bankman-Fried stated that the exchange’s margin position had been substantially larger than he had anticipated and that he had many regrets regarding the company’s demise in an interview with the New York Times on Sunday.

Coincu will continue to update the situation related to Sam Bankman-fired Trial Live Update, you can find out more information through this article.

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

Alameda

FTX

Sam Bankman-Fried

SBF

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

Sam Bankman-Fried Still Tries To Raise Fund For FTX

According to the Wall Street Journal, former FTX CEO Sam Bankman-Fried spent the past weekend soliciting investment commitments because he believes he can raise enough money to compensate users.
Sam Bankman-Fried Still Tries To Raise Fund For FTX

Specifically, the former CEO and some employees spent most of the weekend looking for investors to compensate for the loss of up to $8 billion.

However, this effort has so far yielded no results. It is unclear what Sam Bankman-Fried has committed to potential partners in exchange for cash, nor if any organizations have agreed to assist.

From 2021 to 2022, FTX has raised capital many times, with an amount of nearly $1.5 billion raised from many reputable funds. At the peak of early 2022, the exchange was valued at up to $32 billion.

Last week, FTX submitted a bankruptcy petition. Sam Bankman-Fried stated that the exchange’s margin position had been substantially larger than he had anticipated and that he had many regrets regarding the company’s demise in an interview with the New York Times on Sunday.

Coincu will continue to update the situation related to Sam Bankman-fired Trial Live Update, you can find out more information through this article.

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