FTX is in a stiff situation and the gradual grievance is making it tough for the Bahamian crypto exchange. The company has lost a significant amount of assets given the abrupt withdrawals by the users as stampede went on ruining it. Citing the company’s beleaguered condition, FTX founder and CEO Sam Bankman-Fried is making efforts to damage control.
FTX Looking for a Helping Hand
On 10th November 2022, Reuters reported FTX is reaching out to investors and even the competitors in the industry to help the company raise funds worth 9.4 billion USD. SBF talked with Tron founder Justin Sun, stablecoin platform Tether and rival exchange platform OKX.
Further it added citing a source with knowledge in the matter that the executive is reaching its existing investors like venture capital firm Sequoia Capital. The report had no information if SBF received a response from the entities.
However, some responses were recorded from the usual and expected way, via Twitter.
Some Back off but Some S
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