Business

FTX’s Bankman-Fried: Seeking capital raise, talked to Justin Sun

FTX’s Sam Bankman-Fried told staff in a memo that he was seeking a capital raise and had held talks with Justin Sun, founder of the crypto token Tron, although did not want to imply anything about his chances of success.

Bankman-Fried said for the next week he would be “conducting a raise” to do right by customers and “possible new investors.”

Bankman-Fried told employees on Wednesday he was exploring all options for his firm after a deal with cryptocurrency exchange Binance collapsed.