As one of the largest cryptocurrency exchanges in the world, FTX, is on the verge of bankruptcy, initiatives are multiplying to help affected investors. After Changpeng Zhao and Binance, it is the turn of Justin Sun, founder of Tron (TRX), and Huobi (HT) to announce that they are working together with FTX to try to save their investors.
Justin Sun to the rescue of FTX?
While Changpeng Zhao, CEO of Binance, positioned himself as a market saver by offering to take over rival platform FTX, the withdrawal of the offer announced last night will have ended to bury the last hopes of investors.
This Binance initiative, although it ended in failure, was warmly acclaimed by many major players in the ecosystem. This is particularly the case of Justin Sunfounder of the Tron (TRX) ecosystem, simply commenting ” Thank you for trying. It takes a lot of courage. » :
Thanks for trying. It takes lots of courage. https://t.co/ioo2Fr8XNa
— HE Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) November 10, 2022
In the process, Justin Sun also spoke on Twitter and announced that he was working in conjunction with FTX to support users who have invested in Tron ecosystem tokens. He mentions in particular the TRXthe BitTorrent (BTT)the Just (JST)the Sun Token (SUN) and the Huobi Token (HT) :
Further to my announcement to stand behind all Tron token (#TRX, #BTT, #JST, #SUN, #HT) holders on #FTXwe are putting together a solution together with #FTX to initiate a pathway forward. @FTX_Official
— HE Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) November 10, 2022
Although known for his tongue-in-cheek tweets, outlandish announcements, and publicity stunts, Justin Sun looks serious this time around. Indeed, the tweet was retweeted by none other than Sam Bankman-FriedCEO of FTX, remaining terribly silent for several hours.
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This initiative echoes to an announcement made yesterday by the Huobi platform, in collaboration with TronDAO. Both entities explain provide an exit door for investors holding any of the tokens listed above on FTX, although their funds are locked to the platform.
🔥#Huobi and @trondao to exchange the Tron tokens (#TRX , #BTT , #JST , #SUN, $HT) at 1:1 even if they cannot be withdrawn on FTX.💪
➡️https://t.co/v9xSdwipAa pic.twitter.com/UlMjtXvEBH
—Huobi (@HuobiGlobal) November 9, 2022
At the time of writing these lines, the details of the proposal are not known. Huobi users are only required to fill out a form in order to report the amount of Tron ecosystem tokens (TRX, BTT, JST, SUN, HT) they hold on FTX.
The statement explains that Huobi and TronDAO will do the maximum “to support users wishing to withdraw Tron tokens that they deposited on FTX by a ratio of 1 to 1”. For the time being, it is impossible to know who is affected by this initiative, so caution is required.
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Lilian Aliaga
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