Huobi Global Advisor, Justin Sun to Consider Purchase FTX Assets

Justin Sun, cryptocurrency entrepreneur and advisor to Huobi Global, has reportedly evaluated FTX assets for possible acquisition.

Open to any deal

A Wall Street Journal report stated that Sun is open to “any kind of deal,” with the now-bankrupt exchange, and that he is considering “all his options.”

“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 said.

Previously, Bahamas regulators also claim to have directed FTX to move $500 million in assets into its own digital wallet to be safe.

Read More: SBF To Testify At Hearing On FTX Collapse This December

Tron and Huobi representatives were on the ground in the Bahamas to discuss their upcoming deal, Sun said.

SBF Talked to Justin Sun Before

As early as this month, leaks showed Sam Bankman-Fried hinting to FTX that he is in talks with Sun regarding a possible raise, pointing to Sun’s potential buyout plans.

Bankman-Fried said in a memo viewed by Reuters that he would be conducting a raise to please customers and “potential new investors.”

Aside from Justin, the CEO of Ripple, Brad Garlinghouse has also been reported as interested in FTX Assets.

It is likely that the CEO is willing to purchase those parts of the exchange that cater to business clients. Additionally, the company is interested in other companies that were part of FTX’s portfolio.

Read More: CoinMarketCap Launches New Financial Reserve Feature! 

By doing so, Garlinghouse will be able to strategically scale its business in the future, even if the market is in a bear market.

Additionally, this news has attracted the attention of crypto users who have expressed their opinions on Twitter.

 “ For starters he has a strong base in Grenada and made his chain a tender in Dominica and FTX is based in Bahamas and all these countries are West Indies. It would make more sense for @justinsuntron to absorb FTX as a whole or part as that will give his TRX chain the exposure,” said one Twitter user

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Jamilatul Mahmudah

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