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.
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
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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.
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
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