FTX founder and CEO Sam Bankman-Fried has told investors that without an injection of additional capital, the exchange will be forced to file for bankruptcy.
According to Bloomberg, Bankman-Fried has said that due to the liquidity crisis, the company has faced a deficit of up to $8 billion. FTX needs $4 billion to remain solvent.
The Wall Street Journal has given similar estimates. According to its sources, the platform needs cash injections to meet customer withdrawal requests.
According to Bloomberg, FTX is trying to raise emergency funding in the form of debt, equity, or a combination of the two.
An analyst under the pseudonym Cobie has published a message that the head of the company has allegedly sent to employees on Slack. The screenshot also shows the company’s plans to raise funding to solve the problem.
