Cryptonews FTX has suspended registrations for new users, has held talks with Justin Sun, and is facing allegations that customer funds were used to prop up a sister company 🤭
Sam Bankman-Fried has told FTX.com investors that the exchange is teetering on the brink of bankruptcy unless it secures an urgent cash injection, according to Bloomberg.
A "significant liquidity crunch" has led to withdrawals being suspended, and many customers being unable to access their funds. However, there's uncertainty over whether Sun is hoping to come to the rescue of the exchange as a whole, or protect those who held Tron-based tokens on the doomed trading platform.
SBF goes on to say that FTX is attempting to conduct a raise to make customers, current investors and employees whole, adding: "I completely understand that this is a tough time for all of you, and I'm really f****** sorry for that. I also understand that everyone has their own thoughts about the right decisions for the companies to make."
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