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Tron Is Ready to Provide FTX With Billions in Aid, Sun Says

  • Firm is prepared to cover the loss once due diligence is done
  • Tron teamed with FTX to allow users to withdraw some tokens
Bloomberg business news
WATCH: Tron founder Justin Sun says “I don’t have the exact number, but I think at least we are talking about billions here.”Source: Bloomberg
Updated on

Tron is prepared to provide billions of dollars in aid to should it go ahead with a deal to rescue the ailing cryptocurrency exchange, founder Justin Sun said.

FTX is currently nursing a shortfall of as much as $8 billion, with its founder Sam Bankman-Fried telling investors on Wednesday that the business will require at least $4 billion in fresh funding to remain solvent. Previous rescue talks with rival exchange Binance fell through on Wednesday, with Sun stepping in to hold discussions shortly after.