Tron’s Justin Sun Says He’s Working on a ‘Holistic Solution’ With FTX
Justin Sun has tweeted that he is working towards a ‘Holistic solution’ to ‘return normalcy for all FTX users.’
Tron’s founder and former CEO, Justin Sun, has stated via Twitter that he and his team are working ‘towards a wholistic solution’ with the team at FTX to return ‘normalcy for all FTX users.’
Mr Sun made the comments after confirming that the trading of Tron (TRX) had resumed on FTX and that they were working with the team towards a resumption of withdrawals for the digital asset.
My Team Has Been Working to Avert Further Deterioration — Justin Sun
In an earlier Twitter thread, Mr Sun announced that he was working towards a way of compensating holders of TRX, BTT, JST, SUN and HT, who have had their assets locked in FTX due to its ongoing liquidity crisis. Justin Sun had stated that he was working towards a means by which the investors holding the Tron-based assets would be compensated in a one-to-one ratio.
He added that the ongoing liquidity was harmful to the entire crypto ecosystem, and he was additionally working towards averting further deterioration. He said:
The ongoing liquidity crunch, despite short term in nature, is harmful to the industry development and investors alike.
My team has been working around the clock to avert further deterioration. I have faith that the situation is manageable following the holistic approach together with our partners. Stay tuned #TRON @FTX_Official
Justin Sun’s Bailout Might Be a Marketing Stunt — WuBlockchain
However, not everyone is convinced that the Tron founder has the capacity to bail out FTX after Binance backtracked on plans to acquire the exchange. The team at @WuBlockchain believe that Mr Sun’s statements are ‘just a marketing stunt’ given that he has recently acquired the Huobi Global crypto exchange.
FTX’s Sam Bankman-Fried Allegedly Confirmed Talking to Justin Sun About a Bailout Plan
At the same time, crypto-Twitter is abound with speculation that Justin Sun could be serious about bailing out Sam Bankman-Fried’s FTX crypto exchange.
Crypto-Twitter members have been sharing what looks like a screenshot — which can be found below — of an email or message allegedly by Sam-Bankman-Fried, to FTX employees, stating that he had spoken with Justin Sun regarding a potential plan to raise funds to stabilise the situation at the exchange.
~By John P. Njui~
