Justin Sun Seeks Opportunity To Help FTX Through Crisis

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The founder of the Tron project, Justin Sun, noted that the liquidity crisis of the FTX exchange, despite its short-term nature, is detrimental to both the development of the industry and investors.

Justin Sun said he is looking at ways to help FTX weather the crisis, but did not provide additional details about the solution he is working on.

"In addition to my statement of supportall TRX, BTT, JST, SUN and HT holders on the FTX exchange, we are working with Sam Bankman-Fried to develop a solution to initiate a path forward,” he tweeted.

In an earlier tweet, he said he would protectTron users who were unable to withdraw assets from FTX. Huobi Exchange and Tron DAO have announced that they will support users who wish to withdraw their TRX, BTT, JST, SUN and HT deposited on the FTX platform at a 1:1 ratio. 

Sun added that his team is working hard,to avoid “further deterioration of the situation.” The FTX CEO retweeted Sun's message. This was his first reaction on Twitter after Binance announced it would buy FTX.

However, after a comprehensive review, Binance abandoned the acquisition of the FTX exchange, saying that the site has serious problems that attract the attention of regulators.