FTX founder Sam Bankman-Fried is reportedly not done looking to raise emergency capital to keep his floundering crypto exchange afloat.
Bankman-Fried will focus on raising capital for the week ahead, according to an internal memo seen by reporters at Reuters.
Specifically, Bankman-Fried told employees that he’s looking to make customers whole by “conducting a raise” and seeking “possible new investors.”
FTX is also working with Tron (TRX) founder Justin Sun, who says a plan to “return to normalcy” is underway.
Sun and Bankman-Fried teamed up to re-enable trading of TRX and other tokens in the Tron ecosystem on FTX.
This is only the initial step taken towards a wholistic solution that is being crafted to resuscitate and return to normalcy for all #FTX users. I greatly appreciate the collaborative work between @FTX_Official teams ?
— H.E. Justin Sun?????? (@justinsuntron) November 10, 2022
FTX is reeling from a liquidity crisis that began as the exchange faced mounting reports that it mishandled customer funds and denominated much of its holdings in its native asset FTX Token (FTT).
Both the US Securities Exchange Commission and the Commodity Futures Trading Commission are reportedly investigating the allegations.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Konst787/Sensvector