Popular altcoin of TRON (TRX) Founder Justin Sun said on Wednesday that FTX’s venture capital arm has assets that might be worth investing in, but that sinking. cryptocurrency He said that the process could take time as the stock market enters Chapter 11 bankruptcy proceedings.
Justin Sun: “We Are Examining FTX’s Subsidiaries One By One To Acquire”
“FTX Ventures still has a lot of portfolios (companies) and we are reviewing them one by one, but it is already in Chapter 11 right now, so it may take longer to complete the process,” Sun said at the Reuters Next conference.
Sun, the founder of the TRX altcoin, is also allegedly the secret owner of the cryptocurrency exchange Huobi. Huobi and Sun’s exchange Poloniex said in a statement today that they would “increase their cooperation”.
Sun had raised the possibility that Poloniex and Huobi might merge in the future. However, Huobi rejected the merger plans, and Sun explained that the two exchanges “have no plans to merge yet.”
Leon Li, the previous majority shareholder of Huobi Global, sold his shares to a firm called About Capital Management in October 2022. Sun again denied that he was behind the acquisition, but quickly became an advisor to Huobi, raising suspicions that he was controlling About Capital.
However, Sun recently collaborated with the island nation of Dominica and announced that it would help this country launch its exclusive Dominica Coin (DMC) altcoin. The token in question will be the first national cryptocurrency. According to the statement of the country authorities, digital IDs will be distributed to token holders.
*Not investment advice.
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