TRON founder Justin Sun has hinted <\/a>at his desire to bid for tokens and assets that belong to the bankrupt cryptocurrency exchange FTX.<\/p>\n According to Sun, he is contemplating the offer as a way of reducing the selling impact of the holdings on the broader crypto ecosystem.<\/p>\n <\/p>\n Contemplating an offer for FTX’s holding tokens and assets to reduce their selling impact on the crypto community. Let’s unite to bolster our crypto ecosystem!\ud83d\ude4f<\/p>\n \u2014 H.E. Justin Sun \u5b59\u5b87\u6668 (@justinsuntron) September 11, 2023<\/a><\/p>\n<\/blockquote>\n <\/p>\n A recent court filing which was prepared for a creditors meeting shows<\/a> that the beleaguered exchange\u2019s assets are almost $7 billion. These comprise a $3.4 billion crypto portfolio which includes roughly $1.2 billion in Solana<\/a> (SOL) tokens. These SOL tokens turned out to be FTX\u2019s largest crypto holding and many crypto community members have been wondering what would become of the digital asset in the case of a broad selloff.<\/p>\n Furthermore, the filing highlighted that the crypto firm holds an additional $560 million in Bitcoin (BTC) and $192 million in Ethereum (ETH).<\/p>\n In addition, FTX owns 38 properties in the Bahamas which were all appraised<\/a> at $199 million. Noteworthy, the crypto firm was based in the Bahamas before it imploded almost a year ago at which time it was only starting to get incorporated in Antigua and Barbuda.<\/p>\n <\/p>\n Markedly, 15 of these properties in the Bahamas goes by the name Albany Marina Residences and they are worth $151 million and $34 million across 5 other properties.<\/p>\n Besides these real estate assets, it was revealed that 46 FTX executives including Sam Bankman-Fried, Nishad Singh, Zixiao Gary Wang, and Caroline Ellison received cash, crypto, equity and real estate valued at around $2.2 billion.<\/p>\n The filing equally shows that since last year when the exchange filed for bankruptcy protection as well as the liquidation of its assets, almost $2.6 billion in cash has been secured. Though the financial transactions of FTX were its major bane, Justin Sun is also not free from complications<\/p>\n The financial transactions that beclouded the Sun\u2019s takeover<\/a> of Huobi Exchange has remained controversial to date. Whether or not he has the financial basis to finance the potential FTX holding bids he\u2019s mulling is one thing, securing regulatory permission is what the industry now has to keenly watch out for.<\/p>\n <\/p>\n \u2713 Share:<\/p>\nFTX Owns Large Solana Holdings<\/strong><\/h2>\n
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Former FTX Executives Owns Massive Real Estate Assets<\/strong><\/h2>\n
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