The co-founder and CEO of crypto exchange FTX has been threatened with an investigation by the public prosecutor.
(Photo: Bloomberg/Getty Images)
New York It would be a desperate move: Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, still believes he can raise enough money to compensate his users, according to US media reports.
The Wall Street Journal, citing insiders, reported Tuesday that Bankman-Fried spent the weekend calling potential investors along with some remaining employees.
So they should close the liquidity gap of up to $8 billion to cover up to one million FTX customers.
But efforts to find new investors have so far been unsuccessful, the report says. It also remained unclear what the founders, known as “SBF”, might offer in return for another cash injection.
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“I screwed it up,” Bankman-Fried reportedly said in a conference call with investors. He would be “incredibly, incredibly grateful” if new investors could help.
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Connor Beaumont is a contributor to CA News Ottawa, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear, accurate reporting and useful information that helps readers stay informed about current affairs and developments that shape their communities. His work highlights relevant stories, emerging trends, and important issues, presenting them in a balanced, accessible, and reader-friendly manner.
