Even today, the fall of the fourth largest crypto exchange company FTX continues to reverberate. The Wall Street Journal has just published another important information. According to people close to him, Sam Bankman-Fried is still trying to raise funds to reimburse customers. The CEO of FTX has neither confirmed nor denied this “rumor”.
Sam Bankman-Fried tries to save FTX again
Just last week, Sam Bankman-Fried filed for bankruptcy protection for his company FTX. The reason he mentioned: the margin position of the stock market which was much larger than expected.
But according to The Wall Street Journal, Sam Bankman-Fried still thinks he can find a way to raise money to repay institutional clients and merchants. This is why he and his collaborators continue to look for potential investors to this day. The purpose of this fundraiser: to make up for the loss of around 8 billion dollars. For the time being, nothing indicates that the efforts of the thinking heads of FTX have borne fruit.
A crypto company facing big problems
As a reminder, FTX currently has over 100,000 creditors. Most of them are traders or institutional clients. Since the collapse of FTX, they all end up with funds blocked.
In reality, the funds of FTX (and therefore of its clients) have been frozen since November 8th. This makes withdrawal impossible.
FTX’s problem doesn’t end there. On November 12, his operational wallets were hacked. The result: the theft of over $477 million worth of crypto that remained on the exchange.
Sam Bankman-Fried is not at all ready to give up. He is still trying to find ways to pay his creditors. But finding investors who would still agree to meddle in a matter that is not very clear seems impossible. But the CEO of FTX tries everything. In this case, he risks prison.
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