After Ripple’s Brad Garlinghouse, Tron’s Justin Sun Hints at Purchasing FTX Assets
According to a Nov. 22 article in The Wall Street Journal, justin sun justin sun founder at tron
Justin Sun is the founder of Tron and CEO of BitTorrent. He has become quite possibly the most renowned figure in the blockchain space, known for his intricate advertising strategies. He is an ambassador, Permanent Representative of Grenada to the WTO, and a Geneva-based Chinese-Grenadian negotiator, business visionary, an business chief.
He holds a graduate degree in East Asia studies from the University of Pennsylvania and a B.A. in history from Peking University. He studied at Human University and turned into the cover figure of Yazhou Zhoukan in 2011 and Davos Global Youth Leaders in 2014. In 2015 he was named CNTV’s most essential new business person and was named in Forbes China 30 Under 30 from 2015 through 2017.
He put the record-breaking $4.6 million bid to have a private lunch with Berkshire Hathaway CEO Warren Buffett in June 2019, before dropping it to a far-reaching surprise. The lunch with Buffett ultimately happened in January 2020. On 11 March 2021, Sun was the underbidder on the notable $69M auction at Christie’s New York of the Beeple non-fungible token (NFT) assortment Everyday: the First 5000 Days. In October 2021, Sun took part in a $65 million financing round in Animoca.
In December 2021, Sun declared he was the victor of the New Shepard closeout with a bid of $28 million to be the principal paying traveler to fly on the Blue Origin vehicle in July 2021. He couldn’t fly on this July 2021 mission because of a booking struggle. Anyway, he bought (probably with the $28 million sale bid, which he paid to Blue Origin in 2021) secretly a full trip of New Shepard for him and expects to choose five different members to fly with him into space in late 2022. In December 2021, Justin Sun resigned as the CEO of TRON to turn into a negotiator for Grenada. EntrepreneurInvestorCrypto and Blockchain ExpertChief Executive Officer , the founder of tron tron Blockchain Network (TRX), expressed his interest in purchasing FTX assets to journalists in Singapore.
The cryptocurrency pioneer revealed to the publication that his colleagues were currently going through the process of purchasing various assets from the troubled cryptocurrency exchange.
As of November 20, the cryptocurrency exchange FTX had a total cash balance of about $1.24 billion, according to a recent court document that CNBC reported.
Recent bankruptcy court papers show that FTX currently owes its largest creditors almost $3.1 billion.
“We are open to any kind of deal. I think all the options [are] on the table. Right now we are evaluating assets one by one, but as far as I understand the process is going to be long since they are already in this kind of bankruptcy procedure,” Sun said.
Sun noted that representatives from Huobi and Tron were now speaking with FTX in the Bahamas.
With this statement, the Huobi global adviser became the most recent crypto supporter to express interest in the assets of a troubled company.
brad garlinghouse brad garlinghouse ceo at ripple Brad Garlinghouse is one of the world’s largest crypto payments processors; he is an extremely popular name across the global crypto landscape. He has previously served as the CEO of Hightail, a file-sharing service, and is also an active angel investor. He is currently serving as the CEO of financial technology company Ripple Labs. He joined Ripple as COO in April 2015, answering to the CEO and prime supporter, Chris Larsen. He was elevated to CEO in December 2016.
Previously, he also worked at AOL and Yahoo! From 2003 to 2008, he filled in as Senior Vice President at Yahoo!, where he ran its Homepage, Flickr, Yahoo! Mail, and Yahoo! Courier divisions. While at Yahoo!, he wrote an inner update known as the “Peanut Butter Manifesto,” requiring the organization to zero in on its core business instead of extending itself excessively far, much like peanut butter. EntrepreneurInvestorChief Executive OfficerBoard Member , CEO of Ripple, recently disclosed that the cryptocurrency payment startup was considering buying certain FTX holdings.
Will Sun Aid FTX with billions?
When former CEO Sam Bankman-Fried was desperately looking for new capital for the exchange to avoid bankruptcy, Sun also showed that he was willing to provide FTX billions. SBF has knocked on a lot of doors in an effort to gather funds after the collapse.
Reuters reports that SBF has contacted Sun, the stablecoin platform Tether, and the competing exchange OKX.
paolo ardoino paolo ardoino chief technology officer at bitfinex
Paolo Ardoino has been interested in computers since he was a child. He began coding at the age of eight and later participated in the computer science programme at the University of Genoa, where he graduated in 2008. Ardoino became intimately concerned with cryptography and discovered distributed systems while undertaking research for a military project. He was motivated by the idea that people could manage their own wealth without banks or other intermediaries, and that the millions of unbanked and underbanked people throughout the world could have access to financial services, after reading the Bitcoin white paper in 2012.
Ardoino began his career as a senior software developer at Bitfinex in 2014, and after two years, he was elevated to chief technology officer. He is also the commander.
Tether’s market valuation, which is tethered to the US dollar, remained one of the hottest issues in 2020, rising fivefold from $4 billion to more than $20 billion in a single year. Tether’s average daily transfer value topped that of Bitcoin and PayPal over the summer. Tether Gold, a gold-backed stablecoin, was also launched under Ardoino’s technical direction. While the company has been chastised for its reserve policy and refusal to burn its Ethereum-based tokens, Ardoino has openly defended its decisions.
Meanwhile, Bitfinex had a banner year in 2020, launching a staking service, institution-grade custody services, an open-source peer-to-peer streaming protocol, and a market surveillance tool, all under the technological supervision of Ardoino. In addition, the exchange earned headlines for conducting one of the largest Bitcoin transactions ever. EntrepreneurDeveloper/ProgrammerFinanceChief Technology Officer , CTO of tether tether Stable Coin , has made it clear that the company has no plans to make an investment in or extend a loan to the troubled exchange.