Justin Sun can buy assets from FTX

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Justin Sun: China can't "suppress" the crypto market

Billionaire crypto entrepreneur Justin Sun is reportedly evaluating FTX assets for purchase.

Theo report of the Wall Street Journal, Sun said he's willing to give “any agreement” with FTX exchange and “all options” are all on the table.

He added: “Right now we are assessing the properties one by one, but as far as I understand the process will be lengthy as they are already in bankruptcy proceedings. "

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The records show that the FTX Group held 1,24 billion dollars cash reserves and the FTX exchange does not keep Bitcoin on its balance sheet. 

Existing FTX in debt about 3,1 billion dollars only for the 50 largest creditors. 

The managers of the Bahamas also declare directed FTX to move 500 million dollars assets to your digital wallet for safekeeping.

Sun added that he has representatives in the Bahamas to discuss the deal. 

Sun is okay was reportedly planning to acquire FTX earlier this month when leaked internal messages showed Sam Bankman-Fried hinting to FTX employees that he was in talks with Sun.

The day before that, Sun admitted on Twitter that “Coming together to come up with a solution with FTX to start a path forward.”

Apart from Sun, Ripple CEO Brad Garlinghouse also keeping an eye on assets of FTX, according to The Times. 


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