Justin Sun, the founder of Tron, said his associates were evaluating the potential purchase of assets from Sam Bankman-Fried’s collapsed FTX empire.
Justin Sun, on FTX, per WSJ: we are open to any kind of deal. I think all the options are on the table.
— unusual_whales (@unusual_whales) November 22, 2022
“We are open to any kind of deal. I think all the options [are] on the table,”
said, Mr. Sun.
“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.”
Justin Sun is the founder of the Tron cryptocurrency network and Grenada’s ambassador to the World Trade Organization. Before FTX declared bankruptcy, Tron agreed to set up a credit facility that would allow holders of TRX, BTT, and several other tokens to remove their holdings from the platform. However, in the end, FTX failed to secure a bailout.
Mr. Sun was concerned with how the FTX crash would negatively affect the crypto space and how it would bring more scrutiny from regulators, institutional investors, and others.
“The fall of SBF will leave a very negative impression on mainstream American society about the cryptocurrency industry,”
Mr. Sun said.
However, Tron is not the only company that is interested in acquiring FTX’s assets. Ripple CEO Brad Garlinghouse also eyeing other companies that are part of FTX’s portfolio.