Justin Sun, founder of the TRON blockchain revealed that he is open to “any kind of deal” and “all options” are on the table with regard to the fallout of the once-dominant FTX led by Sam Bankman-Fried.
In an interview, Sun stated that representatives from Tron and the Huobi exchange are examining the platform’s assets with the intention of buying and are in talks with the FTX Group in the Bahamas.
“Right now we are evaluating assets one by one, but as far as I understand the process is going to be long since they are already in this kind of bankruptcy procedure,” he added.
After Binance backed out of an acquisition deal citing funds misappropriation, Sun, a crypto entrepreneur emerged as a savior by extending a helping hand to the beleaguered crypto exchange
Initially, Sun announced that they were working with the FTX team to allow withdrawals and trading for tokens related to him. Several crypto assets related to Justin Sun, include Tron (TRX), Just (JST), Sun (SUN), BitTorrent Token (BTT), and Huobi Token (HT).
Following FTX’s filing for bankruptcy, Bankman-Fried stepped down as CEO of FTX on Nov. 11. Still, SBF continued tweeting multiple threads speaking about the debacle.
This prompted the new CEO John Ray III to distance himself from Bankman-Fried saying his views do not represent the firm as he no longer works there.
TRON Founder Said FTX’s Fiasco Would Leave A Footprint
However as the dust began to settle down, SBF’s tweets mellowed down. Recently, the former CEO issued apologies to the FTX employees saying he felt “deeply sorry about what happened” and that he “froze up in the face of pressure.”
“As we frantically put everything together, it became clear that the position was larger than its display on admin/users, because of old fiat deposits before FTX had bank accounts,” he said. “I did not realize the full extent of the margin position, nor did I realize the magnitude of the risk posed by a hyper-correlated crash.”
The founder of TRON, on the other hand, claimed that mistakes committed by Bankman-Fried will damage cryptocurrency in the eyes of regulators, institutional investors, and other parties.
The collapse of SBF, according to Sun, “will leave a very negative impression on mainstream American society about the cryptocurrency industry.”
Before FTX sought bankruptcy protection, Sun and Tron held discussions with FTX regarding how to safeguard owners of Tron tokens.