• September 26, 2023


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Tron’s Founder Plans to Provide Financial Help to FTX

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Tron Foundation’s founder Justin Sun has said that he is ready to provide “billion-dollar assistance” to FTX.

He has said due diligence is needed and that it is “a good moment to show unity in the crypto industry.”

Changpeng Zhao spoke about the desire of the exchange to get rid of the FTX utility token (FTT) on November 6. Assets totaling about $2.1 billion were the result of the company’s withdrawal from the portfolio investment in the platform.

The price of FTT collapsed by almost 30% within a few hours amid fears about the financial strength of FTX.

On November 8, Sam Bankman-Fried and Changpeng Zhao announced a strategic partnership that never took place as Binance was not sure about the liquidity of the company after conducting a due diligence.