FTX Needs $8 Billion
It is certain that Binance will not take over the FTX exchange and whether other companies or investors are interested in this is the question. Bloomberg reported that FTX needs a capital injection of $ 8 billion to avoid bankruptcy. FTX CEO Sam Bankman-Fried confirmed this amount.
In the meantime, Sam Bankman-Fried has informed all major investors about the matter in a telephone conversation, an anonymous source said. Investors include BlackRock, Temasek, Sequoia Capital, Circle, Ontario Teachers’ Pension Plan, Paradigm, Tiger Global, SoftBank, Ribbit Capital, Alan Howard, Multicoin Capital and VanEck.
The anonymous source also leaked that the stock market is seeking rescue in the form of debt, equity or a combination of both. Bankman-Fried reportedly said in the phone call, “I screwed up,” and that he would be “incredibly, incredibly grateful” if investors could help him out.
Is there still hope for FTX?
Now that the Binance deal is history, FTX’s fate seems to be hanging by a thread. However, there are still two small glimmers of hope.
The first glimmer of hope is Singapore’s state-owned company Temasek. As NewsBTC reported yesterday, the company is said to have contacted the CEO of FTX to see if the stock can be salvaged. However, Temasek’s spokesman said no details about the talks could be released at this time.
The second ray of hope is Justin Sun. The billionaire and founder of Tron has sent some hopeful tweets into the air. Although these tweets seem to be mainly about saving the capital of Tron users.
All in all, Newsbit considers the chance at more than 95 percent that FTX will not be saved. But who knows, we might be surprised.