Tron founder Justin Sun ready to give billions in aid to FTX: Bloomberg reporter
Justin Sun, the founder of crypto token Tron, said he is ready to provide the beleaguered cryptocurrency exchange FTX with billions in aid, according to a tweet by a Bloomberg News reporter.
The funding is subject to due diligence and is “a good moment to show unity in the crypto industry”, the tweet said, citing Sun.
Regulators froze some of FTX’s assets and industry peers on Friday extended an investigation into worsening solvency problems at the firm and its chief executive Sam Bankman-Fried to limit losses.
Bankman-Fried is discussing raising $1 billion each from Sun, rival exchange OKEx and stablecoin platform Tether, a source with direct knowledge of the matter told Reuters on Thursday.
(Except for the headline, this story has not been edited by NDTV Staff and is published from a syndicated feed.)
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