- Tron’s executive in the Bahamas- Justin Sun
- Justin Sun is eyeing FTX assets on a global level.
According to the Wall Street Journal, Justin Sun, Founder of Tron and Permanent Representative of Grenada to the World Trade Organization since 2021, is keeping an eye on FTX assets globally; it can be assumed Sun is interested in acquiring FTX.
Although Justin Sun has spoken about this yet, it is assumed that Justin may invest in assets of FTX in upcoming times. While talking to a media executive of Wall Street in Singapore highlighted that “We are open to any deal. I think all the options [are] on the table,” Sun added. “Right now we are evaluating assets one by one, but as far as I understand, the process is going to be long since they are already in this kind of bankruptcy procedure.”
Tron’s Founder also stated, “Right now our team is in the Bahamas” to talk with FTX.
According to reliable data, FTX has recently hired the globally popular investment bank Perella Weinberg Partners to supervise the sales of several assets, business units, and FTX subsidiaries.
Justin quoted that the blunder committed by Sam Bankman has eradicated the beliefs of users and investors from the crypto sectors, and it is hard to regain users’ trust.
Justin stated, “The fall of SBF will leave a very negative impression on mainstream American society about the cryptocurrency industry.”
The events of the FTX collapse have troubled the crypto sector, including many investors and more than one million investors. It is said that FTX and its higher officials, including Sam Bankman Fried, have knowingly misused customers’ funds to fulfil his desire.
Although it is not proven that Sam Bankman has misused the funds, it is assumed that it would have happened. The third largest global crypto exchange FTX Filed for bankruptcy on November 11, 2022.
Sam Bankman has resigned from the post of Chief Executive Officer of FTX after filing for bankruptcy, and John J. Ray III occupies the vacant position of CEO. He is also a restructuring officer of FTX.
Earlier on November 25 2022 TheCoinRepublic Justin Sun was at second after Ripple CEO Brad Garlinghouse showed eagerness to purchase assets of the collapsed crypto exchange FTX. The now-bust company filed for bankruptcy under chapter 11 on November 11, 2022.
Earlier, Brad Garlinghouse was interested in acquiring FTX’s stakes in different companies but later changed his thought due to the complication arising as FTX went bankrupt
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/12/02/is-justin-sun-looking-to-acquire-ftx/