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Several Investors in Talks for $9.4B FTX Rescue: Report
A group of investors are involved in bailout talks for Sam Bankman-Fried's troubled crypto exchange, Reuters reported.
Updated May 9, 2023, 4:02 a.m. Published Nov 10, 2022, 5:41 p.m.
CORRECTION (Nov. 10, 20:09 UTC): Dan Loeb's Third Point hedge fund is not providing FTX more money, as initially reported by Reuters.
Sam Bankman-Fried has had discussions with several investors including Tron founder Justin Sun, rival crypto exchange OKX and a number of investment funds as he looks to raise $9.4 billion for FTX, according to a report by Reuters.
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Per the report, SBF is looking to raise about $1 billion from Sun, another $1 billion from OKX and $2 billion from a group of investment funds.
Dan Loeb's Third Point is among 30 to 40 investors that have access to FTX's data room, but the hedge fund is not talking to FTX about giving more money, Reuters said.
Loeb also denied the Reuters story in a tweet.
Also on Thursday, FTX announced an agreement with Tron to establish a special facility to allow holders of TRX, BTT, JST, SUN and HT to swap assets on a 1:1 basis to external wallets. Things will get underway at 18:30 UTC. The size of the facility is to be determined on a weekly basis. As part of the deal, Tron deposits for all users will be disabled.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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