According to reports, billionaire and cryptocurrency entrepreneur Justin Sun is thinking about purchasing FTX’s assets. He declared that “all options” are on the table and that he would be open to “any kind of deal.”
The Bahamas-based FTX Group is currently the subject of discussions with Sun’s representatives from Tron and the Huobi exchange, and his team is currently evaluating each of FTX’s assets individually.
Adding that it will take some time because they are already going through the bankruptcy process
Sun initially declared his intention to save the exchange, working with the FTX team to make it possible for traders to make withdrawals and trade for tokens associated with him.
Brad Garlinghouse, CEO of Ripple, also recently expressed interest in buying some of the FTX assets.
Sam Bankman-Fried, the former CEO of FTX, allegedly called Garlinghouse two days before the company declared bankruptcy in an effort to find investors to save it.
FTX and Ripple talked about whether Ripple might be interested in buying any FTX-owned companies during the call.
The initial phase of FTX’s bankruptcy proceedings just ended. The filing, which kept the names of the creditors private, revealed that the bankrupt company owes its 50 largest creditors a total of about $3.1 billion.
FTX declared that it is conducting a strategic review of its global assets and putting some of its businesses up for sale or reorganization. For stakeholders, the review aims to maximize recoverable value.