TRON - FTX Liquidations Loom But Justin Sun Has A Plan | Benzinga
In a move to protect the cryptocurrency community from potential market turbulence, Justin Sun, the founder of Tron (CRYPTO: TRON), said Monday he is considering a tender offer for (CRYPTO: TRX) tokens currently held by FTX (CRYPTO: FTT).
This move aims to neutralize the potential adverse effects on the market once these tokens are liquidated.
What Happened: FTX, as per court documents, possesses around $3.4 billion in highly liquid cryptocurrencies as of Aug. 31.
The exchange has plans, awaiting the court's green light, to liquidate them at a rate of $100–$200 million on a weekly ...