Justin Sun lays eyes on FTX assets

Justin Sun, CEO of TRON, is seriously thinking about buying FTX assets

Exchanges & Wallets November 23
Víctor de Castro

As anticipated on MundoCrypto News a few days ago, Justin Sun will be looking to buy FTX assets over the coming days. He is not the only one, as there are rumors that Ripple could have similar intentions. Not too long ago, Justin Sun mentioned on Twitter that he was considering any kind of deal. Recently, the CEO of Ripple, Brad Garlinghouse, has expressed his interest in buying stock market assets. To all this, the FTX bankruptcy hearing began yesterday, November 22nd in Delaware

CEO battle for FTX assets

According to the Wall Street Journal, Justin Sun is evaluating the possibility of buying FTX assets after the collapse of the second-largest exchange. This coincides with the version of several journalists who, after their meeting with the CEO of TRON in Singapore, revealed that Sun was considering doing something with FTX. The issue seems to have advanced as one of Justin Sun's partners is in the Bahamas, where Sam Bankman-Fried and several members of the FTX leadership reside. 

“We are open to any type of agreement. I think all options are on the table. Right now we are evaluating the assets one by one, but from what I understand the process is going to be long since they are in this type of bankruptcy procedure”, Sun commented. 

These coincide with those of Brad Garlinghouse, CEO of Ripple, who is also considering the possibility of acquiring assets from the exchange that is currently bankrupt. Ripple is more interested in the assets related to the commercial side of FTX, although they did not rule out the rest of the assets either. Let’s not forget that the FTX conglomerate is made up of more than 130 entities. It seems that the interest of both was aroused by Sam Bankman-Fried, who might have contacted both following the fall of FTX.

Justin Sun already tried to help FTX when the first solvency problems of the exchange arose. TRON agreed to establish a line of credit that would allow holders of TRX, BTT, and other tokens to carry out withdrawals from the platform. Help that was of little use. Court documents reveal that FTX owes just over $3 billion to its top 50 creditors, but the firm only has half that figure in cash. 

Will Justin Sun buy FTX assets with TRON or will Brad Garlinghouse do so with Ripple? This story hasn’t ended yet.


Swyftx slashes workforce

The exchange commences an internal reorganization process after stating that it has “no exposure to FTX”, but it is not immune to the ensuing market crash.

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