Justin Sun wants to reportedly buy FTX assets Justin Sun wants to reportedly buy FTX assets
Huobi and Tron executives are reportedly in talks with FTX in the Bahamas.
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Updated: Sep. 13, 2023 at 2:55 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Tron (TRX)founder Justin Sun revealed interest in buying FTX assets to journalists in Singapore, The Wall Street Journal reported on Nov. 22.
The popular crypto founder told the Journal that his associates were currently evaluating the process of buying some assets of the bankrupt crypto exchange.
Sun reportedly said:
“We are open to any kind of deal. I think all the options [are] on the table. 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.”
Sun added that Huobi and Tron executives were currently in talks with FTX in the Bahamas.
With this declaration, the Huobi global advisor became the latest crypto advocate to show interest in embattled firm assets. Ripple CEO Brad Garlinghouse recently revealed that the crypto payment company was interested in purchasing parts of FTX assets.
Sun was one of the earliest people Sam Bankman-Fried contacted when FTX encountered liquidity issues.
Sun initially announced plans to save the exchange, working with the FTX team to enable withdrawals and trading for tokens related to him.
Meanwhile, Sun also said FTX’s collapse would pose a major stumbling block for the growth of the crypto industry. According to him, the collapse would leave a bad impression on mainstream views of the industry.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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TRON is one of the largest blockchain-based operating systems.
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
HTX
Huobi, a virtual asset exchange, launched a revised branding strategy on September 13, 2023, where “Huobi” will be rebranded as “HTX.” “H” stands for Huobi, “T” represents TRON with a commitment to being all in TRON, and “X” stands for the exchange.
Justin Sun has carved a name for himself as a leading figure in the blockchain sector.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.