The Amount Of Money FTX Is Trying To Raise Has Been Announced!

According to Reuters, cryptocurrency exchange FTX is trying to raise more than $9 billion to close its financial gap.

According to Reuters, citing sources familiar with the matter, CEO Sam Bankman-Fried, among them Tron founder Justin Sun and stablecoin issuer. Tether’s It is trying to attract funds from many sources, including

According to Reuters, Many Firms Are Negotiating With FTX

Crypto exchange OKX is said to be involved in the talks, along with a number of investment firms, including investor Dan Loeb, according to Reuters.

Axios also reported that it was contacted by crypto exchange Kraken.

The news of the recovery efforts came after reports on Wednesday that Binance would not make a deal to buy FTX.

Earlier on Thursday, Bankman-Fried said it was seeking a bailout. “We are currently spending the week doing everything we can to increase liquidity,” he wrote in a Twitter message, later adding: “There are a number of companies we have been interviewing with, letters of intent, draft contracts, etc.”

Reuters stated that the process is progressing slowly. According to the news source, Bankman-Fried resisted seeking bankruptcy protection due to FTX’s troubles.

News emerged Thursday morning that FTX was using client funds to lend billions of dollars to sister company Alameda Research. In an earlier thread of tweets, Bankman-Fried said that Alameda would be shut down.

However, the activities of the Japanese branch of the cryptocurrency exchange were also stopped by the authorities.

*Not investment advice.