Since Justin Sun, the CEO of Tron, said that a solution was being developed to allow users to “get back to normality,” he has emerged as the next potential rescuer of FTX.
Without a capital infusion, Sam Bankman Fried’s firm might file for bankruptcy following the failure of Binance’s rescue attempt for FTX.
Sun has now entered the debate, asserting that an answer is being developed “to revive and restore normalcy for all FTX users.”
#TRX trading on @FTX_Official has resumed. Working on withdrawal function. Stay tuned.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 10, 2022
Holders of TRX, SUN, JST, BTT and HT will be able to redeem them on a 1:1 ratio even if withdrawals from FTX fail, according to a statement published by the Huobi exchange, for whom Sun serves as an executive adviser.
“In other words, no matter how things evolve, Tron DAO and Huobi will do their best to support the exchange of the TRON tokens deposited on the FTX platform at a 1:1 ratio, including during the words case scenario that we all know may happen.” – said Justin Sun.
#TRON Ark building is well underway, the modern time crypto voyage for #FTX users to weather the crypto storm. We are on standby backed by the robust global infrastructure @HuobiGlobal Stay safe and dry @FTX_Official 🔥 pic.twitter.com/tBcZ4uXHU0
— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 10, 2022
FTX and Sun’s team were collaborating on a solution “to establish a route ahead,” Sun added in a tweet.
Further to my announcement to stand behind all Tron token (#TRX, #BTT, #JST, #SUN, #HT) holders on #FTX, we are putting together a solution together with #FTX to initiate a pathway forward. @FTX_Official
— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 10, 2022