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SBF hopes for an Ave Maria, tries to collect donations
The fallen leader of the FTX, Sam Bankman-Fried, still seems to be looking for alternative sources of financing, according to the Wall Street Journal. While the stock exchange and its 134 subsidiaries applied for bankruptcy protection in accordance with Chapter 11 last week and most employees were unemployed, some loyal soldiers may still try to recover the wreck. Bankman-Fried, who is probably still on the Bahamas, has reportedly spent the past weekend in discussions with investors who considered to finance the $ 8 billion that the company owes its dealers and institutional customers-but so far without success. FTX's bankruptcy case ...
SBF hopes for an Ave Maria, tries to collect donations
The fallen leader of the FTX, Sam Bankman-Fried, still seems to be looking for alternative sources of financing, according to Wall Street Journal.
While the stock exchange and its 134 subsidiaries applied for insolvency protection in accordance with Chapter 11 last week and most employees became unemployed, some loyal soldiers may still try to recover the wreck.
Bankman-Fried, who is probably still on the Bahamas, has reportedly spent the past weekend in discussions with investors who considered to finance the $ 8 billion that the company owes its dealers and institutional customers-but so far without success.
The FTX's bankruptcy case currently comprises more than 100,000 creditors - the majority of which are commercial customers whose funds are now in the floating.
The funds of most customers were frozen on November 8th without the possibility of withdrawal. In order to make things worse, crypto worth up to $ 477 million were stolen on November 12 that remained on the stock exchange.
It is unusual that a company that has just been under bankruptcy is looking for new equity lines. FTX, however, could receive a loan that could be used to maintain its operation, known as Involent in possession of financing