DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Justin Sun"


25 mentions found


☆ We'll actively engage with Hong Kong government for better regulation: Crypto exchange firm
  + stars: | 2023-03-01 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe'll actively engage with Hong Kong government for better regulation: Crypto exchange firmJustin Sun of Huobi says it is "100% confident" that the company will be granted Hong Kong's virtual asset service provider license.
☆ Crypto investor Justin Sun says willing to spend up to $1 bln on DCG assets
  + stars: | 2023-01-13 | by ( Elizabeth Howcroft | Thomson Reuters | Reports On The Intersection Of Finance | ) www.reuters.com   time to read: +2 min
LONDON, Jan 13 (Reuters) - Chinese crypto entrepreneur Justin Sun is willing to spend $1 billion of his own funds on buying assets belonging to Digital Currency Group (DCG), the parent company of embattled crypto lender Genesis, Sun told Reuters. Genesis' owner, DCG, is also the parent company of several high-profile crypto firms, including crypto asset manager Grayscale, and its website lists more than 160 companies in its venture capital portfolio. DCG is considering offloading parts of that portfolio to raise money, the Financial Times reported on Thursday. Sun told Reuters in an interview he would be willing to spend up to $1 billion to buy some of DCG's assets, "depending on their evaluation of the situation". When major crypto exchange FTX faced a rush of investor withdrawals in November, Binance said it had signed a no-nbinding agreement to buy FTX's non-U.S. unit.
☆ Crypto exchange Huobi to lay off 20% of staff
  + stars: | 2023-01-06 | by ( Xinghui Kok Rae Wee | Xinghui Kok | Rae Wee | ) www.reuters.com   time to read: +2 min
SINGAPORE, Jan 6 (Reuters) - Crypto exchange Huobi plans to lay off about 20% of its staff, the company told Reuters on Friday. With the current state of the bear market, a very lean team will be maintained going forward," Huobi said in a statement, responding to queries from Reuters. Sun, a Chinese cryptocurrency entrepreneur who is also a member of Huobi's global advisory board, said in an internal memo to Huobi staff that the company has been like "a fire in the (crypto) winter" despite the deteriorating macro environment. Huobi was ranked the eighth largest crypto exchange in terms of volume as of last November, according to analytics website CoinGecko. It was not immediately clear how many staff Huobi currently has.
☆ Crypto exchange Huobi to reportedly lay off 20% of staff as industry reels from FTX collapse
  + stars: | 2023-01-06 | by ( Ryan Browne | ) www.cnbc.com   time to read: +1 min
Digital currency exchange Huobi on Friday reportedly said it plans to reduce its global headcount by about 20%, in the latest round of layoffs to hit the beleaguered cryptocurrency industry. A company spokesperson told news agency Reuters that Huobi had a "planned layoff ratio" of about 20%. Bloomberg and the Financial Times also reported on the layoff plans Friday. "With the current state of the bear market, a very lean team will be maintained going forward," the Huobi spokesperson told Reuters. Huobi had about 1,600 employees worldwide as of October, according to a Financial Times report.
☆ Crypto exchange Huobi to lay off 20% of staff - Justin Sun
  + stars: | 2023-01-06 | by ( Xinghui Kok | ) www.reuters.com   time to read: +1 min
SINGAPORE, Jan 6 (Reuters) - Crypto exchange Huobi plans to lay off about 20% of its staff, Tron founder Justin Sun told Reuters. In an internal memo to Huobi staff , Sun said Huobi has been like "a fire in the (crypto) winter" despite the deteriorating macro environment. Cryptocurrency firm Genesis just cut 30% of its workforce in a second round of layoffs in less than six months. It was not immediately clear how many staff Huobi currently has. As per CoinMarketCap, the Huobi token peaked at $9.40 in late October, with a 24-hour volume then of $52.5 million.
☆ After FTX collapse, pressure builds for tougher crypto rules
  + stars: | 2022-12-02 | by ( ) www.reuters.com   time to read: +4 min
The collapse of Sam Bankman-Fried's FTX was the biggest in string of big crypto-related failures this year. Some crypto investors share these concerns. "Regulators could have posted a lot more guidance for crypto," said Brian Fakhoury at crypto venture capital fund Mechanism Capital. India's Finance Minister Nirmala Sitharaman said the collapse of FTX underscored the need for greater visibility on often-anonymous crypto transactions. The FTX collapse "shows the importance of a well-framed regulation," Sitharaman said, "so that countries can be clearly aware of by whom, for what for these transactions are happening.
☆ Crypto entrepreneur Sun looking at FTX ventures' portfolio companies
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Nov 30 (Reuters) - FTX's venture capital arm has assets that could be worth investing in, but since the failed crypto exchange has entered Chapter 11 bankruptcy proceedings the process could take time, cryptocurrency entrepreneur Justin Sun said on Wednesday. "FTX Ventures still has lots of portfolio (companies) and we are going through them one by one, but right now it is already in the Chapter 11 process so it might take a longer time to finish the process," Sun told a Reuters Next conference. Sun founded the crypto platform Tron and is member of cryptoexchange Huobi's global advisory board. He did not specify which organisation specifically was looking at the assets in the interview. To view the Reuters conference live, please click here; https://www.reuters.com/world/reuters-next/reuters-next-global-virtual-broadcast-2022-11-28/Reporting by Elizabeth Howcroft, writing by Alun John, editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
☆ We're still actively engaged with FTX's team, Tron CEO says
  + stars: | 2022-11-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're still actively engaged with FTX's team, Tron CEO saysJustin Sun of Tron says "we don't have any exposure to FTX or FTX subsidiaries."
☆ FTX scrambles for funds as regulatory pressure builds
  + stars: | 2022-11-11 | by ( Selena Li Vidya Ranganathan | Selena Li | Vidya Ranganathan | ) www.reuters.com   time to read: +6 min
SINGAPORE/LONDON, Nov 11 (Reuters) - Regulators are moving in on distressed crypto exchange FTX as it scrambles to raise billions in funds to stave off collapse, while its chief executive, Sam Bankman-Fried, faces heightened scrutiny. The Securities Commission of the Bahamas has frozen assets of FTX Digital Markets, an FTX subsidiary. FTX Australia called in administrators on Friday, the Australian Financial Review reported, citing a company statement. Bankman-Fried is under investigation by the U.S. Securities and Exchange Commission for potential securities law violations, Bloomberg reported, citing a source. This source said helping out FTX was the question for larger investors in FTX.
☆ FTX scrambles for funds as regulators take action
  + stars: | 2022-11-11 | by ( Selena Li Vidya Ranganathan | Selena Li | Vidya Ranganathan | ) www.reuters.com   time to read: +4 min
Meanwhile, the Securities Commission Of the Bahamas said on Thursday it had frozen assets of FTX Digital Markets, an FTX subsidiary. Broker Genesis Trading disclosed its derivatives business has approximately $175 million in locked funds on FTX. "We believe there is a 20-30% chance of a FTX rescue at best," said Matthew Dibb, chief operating officer of Singapore-based crypto investment manager Stack Funds. He is seeking the remainder from other funds, including current investors such as Sequoia Capital, the source added. It was not clear whether Bankman-Fried will be able to raise the funds he needs or if these investors would participate.
☆ FTX looks for $9.4 bln in rescue funds, Bahamas freezes some assets
  + stars: | 2022-11-11 | by ( Angus Berwick Anirban Sen | Angus Berwick | Anirban Sen | ) www.reuters.com   time to read: +6 min
He is seeking the remainder from other funds, including current investors in FTX such as venture capital fund Sequoia Capital, the source added. Tether's chief technology officer, Paolo Ardoino, tweeted that it had "no plans to invest in or lend assets to FTX." FTX also got hit by the Bahamas Securities Commission, where the company is based, freezing assets of FTX Digital Markets "and related parties". In a tweet, FTX said it had reached a deal with Tron to establish a special facility that would allow clients to swap some crypto assets from FTX to external wallets. Bankman-Fried told investors that Alameda owes FTX about $10 billion, the Wall Street Journal reported.
☆ Sam Bankman-Fried's entire fortune has now been wiped out as pieces of his crypto empire shrivel in value to $1
  + stars: | 2022-11-11 | by ( Brian Evans | ) www.businessinsider.com   time to read: +3 min
Sam Bankman-Fried's fortune has been erased as his assets become essentially worthless, according to the Bloomberg Billionaire Index. At its peak, his net worth was $26 billion and still stood at $16 billion on Monday. At its peak, his net worth was $26 billion and still stood at $16 billion on Monday. But by Wednesday it had shriveled to $1 billion, according to Bloomberg. FTX halted customer withdrawals earlier this week after about $5 billion worth of withdrawal requests came in on Sunday.
☆ FTX files for bankruptcy and Sam Bankman-Fried steps down as CEO after crypto exchange fails to secure bailout
  + stars: | 2022-11-11 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +3 min
FTX announced it was filing for Chapter 11 bankruptcy along with Alameda Research and affiliated companies. Sam Bankman-Fried resigned from his role as CEO of FTX, though he will remain to assist an orderly transition. The bankruptcy includes Alameda Research and 130 additional affiliated companies, which together are called "FTX Group." FTX appointed John J. Ray III as the new CEO of FTX Group. "The FTX Group has valuable assets that can only be effectively administered in an organized, joint process.
☆ Wall Street pushed into digital assets. Now investors are paying the price as FTX's crisis raises questions of a ripple effect in cryptoworld.
  + stars: | 2022-11-11 | by ( Rebecca Ungarino | Danielle Walker | ) www.businessinsider.com   time to read: +8 min
FTX, the crypto exchange in crisis, found backers in BlackRock, VanEck, and Ontario Teachers. The solvency crisis facing the exchange and its famous CEO raises questions of a ripple effect. Now, in the middle of crypto winter, FTX is in the middle of a solvency crisis. Binance, a rival crypto exchange that was initially going to buy FTX, backed out. "What we like about it is that we're not really speculating on whether prices of crypto assets, bitcoin or otherwise, are going up or down.
☆ Tron founder Justin Sun ready to give billions in aid to FTX - Bloomberg
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: 1 min
Nov 11 (Reuters) - Justin Sun, founder of the crypto token Tron, said he was prepared to provide distressed cryptocurrency exchange FTX with billions in aid, according to a tweet by a Bloomberg News reporter on Friday. loadingThe funding is subject to due diligence and is a "good moment to show unity in the crypto industry", the tweet said, citing Sun. Regulators froze some assets of FTX and industry peers raced to limit losses on Friday amid worsening solvency problems at the firm and heightened scrutiny of its chief executive, Sam Bankman-Fried. Bankman-Fried has discussed raising $1 billion each from Sun, rival exchange OKX and stablecoin platform Tether, a source who has direct knowledge of the matter told Reuters on Thursday. Reporting by Manya Saini in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
☆ FTX signs deal with Tron to let users swap some assets
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: 1 min
Nov 10 (Reuters) - Cryptocurrency exchange FTX has set up an agreement with Justin Sun's blockchain network Tron that will allow holders of TRX and some other crypto tokens to swap assets from FTX to external wallets. Reporting by Niket Nishant in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
☆ FTX's Bankman-Fried scrambles for funds after Binance deal collapse
  + stars: | 2022-11-10 | by ( Angus Berwick Georgina Lee Tom Westbrook | Angus Berwick | Georgina Lee | ) www.reuters.com   time to read: +5 min
Bankman-Fried said he was in talks with "a number of players" in the crypto sector, including Justin Sun who is the founder of crypto token Tron, after a potential rescue deal with larger rival Binance fell apart. He also said his firm Alameda Research, which sources have said was partly behind FTX's problems, was winding down trading. FTX's native token, FTT , is down more than 90% this week and was attempting to steady around $3.50. Another exchange, OKX, said it had been approached earlier in the week by Bankman-Fried, who described liabilities of $7 billion that needed covering fast. Bankman-Fried said FTX.US, the U.S. operations of the exchange, however, had not been financially impacted.
☆ FTX's Bankman-Fried seeks funds after Binance deal collapse-memo
  + stars: | 2022-11-10 | by ( Angus Berwick Georgina Lee Tom Westbrook | Angus Berwick | Georgina Lee | ) www.reuters.com   time to read: +2 min
HONG KONG/SINGAPORE/NEW YORK Nov 10 (Reuters) - FTX's Sam Bankman-Fried is seeking new funds after a deal with Binance collapsed, according to a staff memo on Thursday viewed by Reuters, as the crypto exchange looks to plug a reported $8 billion hole in its finances. Larger rival Binance walked away from a bailout of FTX on Wednesday, sending cryptocurrency prices plunging as hopes for a rescue diminished. In the memo, viewed by Reuters, Bankman-Fried said for the next week he would be "conducting a raise" to do right by customers and "possible new investors." It came after Bankman-Fried told employees on Wednesday he was exploring all options for his firm after the Binance deal with collapsed. TX's shortfall comes after users rushed to withdraw $6 billion in crypto tokens from FTX in just 72 hours.
☆ Crypto whizkid Justin Sun says he's working with FTX to find a 'solution' after Binance dumped its rescue deal
  + stars: | 2022-11-10 | by ( Zahra Tayeb | ) www.businessinsider.com   time to read: +3 min
Crypto whizkid Justin Sun said he and FTX are 'putting together a solution' after the Binance deal collapsed. FTX needs $8 billion and bankruptcy is likely without more capital, its CEO Sam Bankman-Fried said. Binance dumped its takeover deal for FTX saying the issues were beyond its ability to help. But he didn't say whether this would rescue FTX as a company or only provide support around the Tron-related tokens on the exchange. Bankman-Fried told FTX employees he was exploring all options for the company after the Binance deal collapsed, Reuters reported Wednesday.
☆ Tron says open to talks with FTX on rescue plans
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: 1 min
Nov 10 (Reuters) - Justin Sun's Tron is focused on enabling the withdrawal of its tokens from FTX but is open to talks about other rescue plans for the struggling cryptocurrency exchange, a spokesperson said on Thursday. FTX rescue talks include the possibility of a credit line, the spokesperson said. They added that a deal on Thursday to establish a special facility that would allow clients to swap some crypto assets from FTX to external wallets was a "first step." Reporting by Elizabeth HowcroftOur Standards: The Thomson Reuters Trust Principles.
☆ Crypto exchange FTX warns of bankruptcy if it's unable to plug a shortfall of up to $8 billion: report
  + stars: | 2022-11-10 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
FTX CEO Sam Bankman-Fried told investors that the exchange faces a shortfall of up to $8 billion, per Bloomberg. FTX needs emergency funding or it will face bankruptcy, Bankman-Fried told investors, per Bloomberg. FTX faces a shortfall of up to $8 billion and was trying to raise $4 billion to stay solvent, Bloomberg reported. "I f---ed up," Bankman-Fried told investors, the media outlet reported. He repeatedly told investors Binance wasn't giving up on the deal, according to Bloomberg.
☆ FTX approaches crypto exchange Kraken for funds - Axios
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: +1 min
Nov 10 (Reuters) - FTX has approached Kraken as potential rescue partner, Axios reported on Thursday, citing two people familiar with the matter, just hours after Chief Executive Sam Bankman-Fried said he had launched an urgent push to raise funds. Bankman-Fried had earlier in the day said he was in talks with "a number of players" in the crypto sector, including Justin Sun who is the founder of crypto token Tron to rescue his cryptocurrency exchange. Separately, the Wall Street Journal reported that FTX tapped into billions of dollars worth of customer assets to fund risky bets by its sister crypto trading company Alameda. Bankman-Fried had told an investor this week that Alameda owed FTX about $10 billion, the report said, citing a person familiar with the matter said. Reporting by Mehnaz Yasmin in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
☆ Tron's Justin Sun says he and his team are 'putting together a solution' with FTX
  + stars: | 2022-11-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTron's Justin Sun says he and his team are 'putting together a solution' with FTXCNBC's MacKenzie Sigalos has the latest on the FTX buyout news, as Tron's Justin Sun jumps into the mix.
☆ FTX's Bankman-Fried: Seeking capital raise, talked to Justin Sun - memo
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: 1 min
NEW YORK, Nov 10 (Reuters) - 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. In the memo, viewed by Reuters, 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. Reporting by Angus Berwick, writing by Megan Davies Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.
☆ EXCLUSIVE Bankman-Fried seeks $9.4 bln package for FTX rescue-sources
  + stars: | 2022-11-10 | by ( Anirban Sen | ) www.reuters.com   time to read: +1 min
REUTERS/Dado Ruvic/IllustrationNEW YORK, Nov 10 (Reuters) - Sam Bankman-Fried is seeking to put together a rescue package of up to $9.4 billion for his troubled cryptocurrency exchange FTX, a person with direct knowledge of the matter said on Thursday. Bankman-Fried is discussing raising about $1 billion from crypto-token Tron founder Justin Sun, $1 billion from cryptocurrency exchange OKX, $1 billion from cryptocurrency firm Tether and $2 billion from a consortium of investment funds, the source said. One of the investors in talks with FTX is Daniel Loeb's hedge fund Third Point, according to the source. Bankman-Fried has had little progress so far in putting the rescue package together, according to the source. FTX, Sun, OKX and Third Point did not immediately respond to requests for comment.
<< prev 1 next >>
Total: 25