Wednesday, July 24, 2024

Sam Bankman-Fried continues to seek investors

Date:

Fried Sam Bankman

The co-founder and CEO of cryptocurrency exchange FTX is threatened with investigations by the prosecutor.

(Photo: Bloomberg/Getty Images)

New York It would be a desperate move: according to US media reports, the founder of failed cryptocurrency exchange FTX, Sam Bankman-Fried, still believes he can raise enough money to compensate his users.

The Wall Street Journal, citing inside sources, reported Tuesday that Bankman-Fried spent the weekend with a few remaining employees calling potential investors.

Therefore, these should close the liquidity gap of up to eight billion dollars to compensate the up to one million FTX clients after all.

But efforts to find new investors have so far been unsuccessful, according to reports. It was also unclear what the founder, known as “SBF,” could offer in exchange for another cash injection.

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“I blew it,” Bankman-Fried said on a conference call with investors. He would be “incredibly, incredibly grateful” if new investors could help.

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Ebenezer Robbins
Ebenezer Robbins
Introvert. Beer guru. Communicator. Travel fanatic. Web advocate. Certified alcohol geek. Tv buff. Subtly charming internet aficionado.

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