Coinspeaker
Justin Sun Teams Up with Distresses FTX on ‘Solution’
The founder of the Tron crypto network Justin Sun said that he is working together with distressed crypto exchange FTX to find a way out of the current situation. In a tweet, he announced that his team is “putting together a solution together with FTX to initiate a pathway forward.”
Justin Sun, also BitTorrent CEO, made the revelation about assisting FTX after Binance announced that it would not be moving forward with the acquisition deal. Before now, Changpeng Zhao and FTX CEO Sam Bankman-Fried confirmed that Binance would be acquiring the troubled exchange. CZ said his firm had signed a “non-binding LoI” to fully take over FTX. At the time, the crypto enthusiast also added that it has the decision to “pull out from the deal” at will. The CEOs also said both teams would conduct due diligence before the completion of the deal.
A Binance spokesperson said Binance had withdrawn its letter of intent to pu
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