With the recent liquidity crunch faced by prominent cryptocurrency exchange FTX, Sam Bankman-Fried is looking for a way out of the situation he has found himself in.
- H.E. Justin Sun, founder and CEO of TRON announced on Twitter to all TRON token holders on FTX that a solution is being put forward to initiate a pathway out. The tokens included in the escape plan include TRX, BTT, JST, SUN, and HT.
- Sun believes that “the ongoing liquidity crunch, despite short term in nature, is harmful to the industry development and investors alike,” this comes after the backlash that was witnessed by investors worldwide caused by Terra LUNA’s multi-billion-dollar crash.
- Sun has tweeted that holders of the tokens listed above are now able to trade these assets on FTX, although there is no mention of withdrawals as of yet. “This is only the initial step taken towards a wholistic solution that is being crafted to resuscitate and return to normalcy for all FTX users,” says Sun.
- Despite the good news, the tweet doesn’t hint at any bailout for tokens not listed by Sun. So the ongoing liquidity issue is still something that will need to be addressed for all other users.
See Related: From Bad To Good To Worse: The Binance And FTX Saga