{"id":69930,"date":"2022-11-11T14:54:57","date_gmt":"2022-11-11T12:54:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69930"},"modified":"2025-09-07T22:56:46","modified_gmt":"2025-09-07T19:56:46","slug":"justin-sun-says-hes-prepared-to-provide-a-billion-dollar-aid-to-ftx","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/justin-sun-says-hes-prepared-to-provide-a-billion-dollar-aid-to-ftx\/","title":{"rendered":"Justin Sun says he&#8217;s prepared to provide a &#8216;billion-dollar aid&#8217; to FTX"},"content":{"rendered":"<p>Tron Foundation founder Justin Sun told Bloomberg journalist Tom Mackenzie that he was prepared to provide FTX with a billion-dollar aid.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/twitter.com\/justinsuntron?ref_src=twsrc%5Etfw\\\">@justinsuntron<\/a> tells me he&#8217;s prepared to provide FTX with billions in aid<br \/>\\&#8221;need to do full diligence\\&#8221;<br \/>\\&#8221;good moment to show unity in crypto industry\\&#8221; <a href=\\\"https:\/\/twitter.com\/FTX_Official?ref_src=twsrc%5Etfw\\\">@FTX_Official<\/a> <a href=\\\"https:\/\/twitter.com\/SBF_FTX?ref_src=twsrc%5Etfw\\\">@SBF_FTX<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/exclusive?src=hash&#038;ref_src=twsrc%5Etfw\\\">#exclusive<\/a> <a href=\\\"https:\/\/t.co\/B3wUUbx4gB\\\">https:\/\/t.co\/B3wUUbx4gB<\/a><\/p>\n<p>\u2014 Tom Mackenzie (@TomMackenzieTV) <a href=\\\"https:\/\/twitter.com\/TomMackenzieTV\/status\/1591016614966677507?ref_src=twsrc%5Etfw\\\">November 11, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<p>According to the journalist, Sun said that there was a need to exercise due diligence and a &#8216;good moment to demonstrate unity in the crypto industry&#8217;.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>On November 6, Binance chief Changpen Zhao <a href=\"https:\/\/u1f987.com\/en\/news\/alameda-research-says-it-would-buy-ftt-from-binance-at-22-per-token\">said<\/a> that the exchange aimed to shed the FTX utility token (FTT). Assets together with BUSD, totaling about $2.1 billion, were the result of the company&#8217;s exit from its portfolio investment in the platform. <\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Against concerns about FTX&#8217;s financial stability, the price of FTT over several hours <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-token-falls-nearly-30\">plunged<\/a> by nearly 30%.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>On November 8, Sam Bankman-Fried and Changpeng Zhao <a href=\"https:\/\/u1f987.com\/en\/news\/binance-chief-changpeng-zhao-announces-purchase-of-ftx\">announced<\/a> a strategic partnership. It was aimed at resolving the liquidity crisis and contemplated a possible takeover of the FTX exchange by Binance. However, by November 10 the latter <a href=\"https:\/\/u1f987.com\/en\/news\/binance-abandons-bid-for-ftx-justin-sun-says-he-will-help-find-a-solution\">walked away from the deal<\/a>.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Following this Sun said that, together with FTX, they were developing a solution that would allow them to move forward. He did not specify what exactly the initiative entailed.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>As reported by WSJ sources, FTX <a href=\"https:\/\/u1f987.com\/en\/news\/media-sam-bankman-fried-acknowledged-alameda-researchs-10-billion-debt-to-ftx\">provided<\/a> client funds to Alameda Research to finance risky operations, which led to the platform&#8217;s collapse.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n<p>\\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tron Foundation founder Justin Sun told Bloomberg journalist Tom Mackenzie that he was prepared to provide a &#8216;billion-dollar aid&#8217; to the FTX cryptocurrency exchange.<\/p>\n","protected":false},"author":1,"featured_media":69931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,1302],"class_list":["post-69930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-justin-sun"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=69930"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69930\/revisions"}],"predecessor-version":[{"id":69932,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69930\/revisions\/69932"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69931"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}