Tron Founder Justin Sun Working Towards Buying FTX Assets

Tron Founder Justin Sun Working Towards Buying FTX Assets
  • Mr. Sun founded the Tron network and now works as an advisor for Huobi Global.
  • FTX has retained the services of investment banking firm Perella Weinberg Partners.

Known cryptocurrency advocate Justin Sun recently revealed that he and several investors were looking into buying assets from Sam Bankman-Fried’s failed FTX company.

“We are willing to negotiate any kind of a deal.”  Mr. Sun said on Tuesday in Singapore to reporters that he thinks they should weigh all of their options.

The Tron founder stated:

“Right now, we are examining assets one by one; but, as far as I understand, the process is going to take a long time given that they are already going through this kind of bankruptcy procedure.”

Discussion Underway

Mr. Sun founded the Tron network and now works as an advisor for the Huobi Global cryptocurrency trading platform. As Mr. Sun put it, “right now our team is in the Bahamas” to discuss with FTX. In a follow-up, he specified that he was addressing representatives from Tron and Huobi, as well as the Bahamas when he made this comment.

To help with the sale of its divisions and subsidiaries, FTX has retained the services of investment banking firm Perella Weinberg Partners.

Mr. Sun claims that authorities, institutional investors, and others would see crypto differently as a result of Mr. Bankman-Fried’s blunders.  The collapse of SBF will have a devastating effect on public perception of the crypto business in the United States.

Moreover, Tron and Mr. Sun had been in talks with FTX on how to safeguard Tron token holders prior to FTX filing for bankruptcy protection. These talks occurred before FTX sought bankruptcy protection from its creditors.

Recommended For You:

Bahamas Court Orders FTX To Pay Remuneration Fees to Regulators

An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.