Robinhood Saw Its Biggest Crypto Inflows in Last Two Days: CEO
Robinhood Markets Inc has seen its biggest crypto inflows ever in the last two days, Chief Executive Officer Vlad Tenev said in a Twitter thread on Thursday, even as the market was roiled by the saga involving FTX.
FTX looks for $9.4 billion in rescue funds from investors, rivals -source
(Reuters) - FTX is scrambling to raise about $9.4 billion from investors and rivals, a source said on Thursday, as Chief Executive Sam Bankman-Fried urgently seeks to save the cryptocurrency exchange that has been buffeted by a rush of customer withdrawals.
Over the past few hours, Bankman-Fried has discussed raising $1 billion each from Justin Sun, the founder of crypto token Tron, rival exchange OKC and stablecoin platform Tether, according to the source who has direct knowledge of the matter.
He is seeking the remainder from other funds, including current investors in FTX such as venture capital fund Sequoia Capital, the source added. One of the investors in talks with FTX is Daniel Loeb's hedge fund, Third Point, according to the source.
Bankman-Fried has said in tweets and a memo to employees seen by Reuters that he was in talks with "a number of players" in the crypto sector, including Sun, after a potential rescue deal with larger rival Binance fell apart. But he added in the memo that he did not want to "imply anything about the odds of success."
Bankman-Fried also said his trading firm Alameda Research, which sources have said was partly behind FTX's problems, was winding down trading.
It was not clear whether Bankman-Fried will be able to raise the funds he needs.
Earlier on Thursday, OKX told Reuters it had been approached earlier in the week by Bankman-Fried, who described liabilities of $7 billion that needed covering fast.
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