TRON Inventor Can Affiliate With FTX! “These 5 Altcoins Are Safe”

FTX and its CEO, Sam Bankman-Fried (SBF), are in a critical situation following Binance’s rejection of potential participation with FTX. But hours after Binance’s withdrawal, Tron (TRX) founder Justin Sun pointed to a potential affiliate with FTX. Here are the details…

TRON founder points to affiliate with FTX

FTX stunned the crypto industry with an announcement Tuesday that it was facing liquidity issues just days after its founder Bankman-Fried tweeted that the stock market was “doing well.” Meanwhile, Justin Sun, the founder of the Tron cryptocurrency network, made a statement at night, hours after Binance announced that it would not be able to terminate the FTX settlement. Sun tweeted that he and his group are “forming an analysis” with cryptocurrency exchange FTX. He explained that they are working on a memorandum to acquire the company.

As we have reported, FTX is facing a major liquidity crunch. That’s why Sun said his group is working with all TRX holders on the FTX platform. He also added that they are working with FTX to “advance”. In additional tweets, Justin Sun also hinted at a potential affiliate with FTX. Sun used the following terms:

In addition to my announcement that I will support TRX, BTT, JST, SUN, HT token holders, we are working on creating solutions with FTX. The ongoing liquidity crunch is precedent for segment development and for investors. My team is working day and night to prevent further disruption. I believe that the situation is manageable with a holistic approach with our partners. Stay tuned.

FTX CEO retweeted Sun’s statement

The same tweet was also retweeted by FTX CEO Sam Bankman-Fried. Time will tell if Justin Sun will make a “takeover offer” to FTX. Meanwhile, the gap in FTX and Alameda’s balance sheets seems to be larger than expected. Sun’s tweet did not fully specify whether this solution would save all assets in FTX. Therefore, the aforementioned analysis can only relate to tokens held on the exchange and related to the Tron ecosystem.

Recently, Bankman-Fried said that he had reached an agreement with Binance founder Changpeng Zhao to make a process. However As we have also reported, Binance has canceled its contract with FTX. Binance said, “Initially, our hope was to be able to leverage FTX clients to provide liquidity. But the problems are beyond our control or ability to help,” he said. This left Sam Bankman-Fried no choice but to explore other potential investors. In a message to FTX employees, SBF said:

I’m working as fast as I can on the next steps here. I wish I could offer you more clarity. I will continue to fight for these (goals) as long as I can, as long as it is real to me. I’m exploring all options. I’m so sorry for coming to this place and my role here. It’s my responsibility and I’m sorry.

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