CORRECTION (Nov. 10, 20:09 UTC): Dan Loeb's Third Point hedge fund is not providing FTX more money, as initially reported by Reuters.
Sam Bankman-Fried has had discussions with several investors including Tron founder Justin Sun, rival crypto exchange OKX and a number of investment funds as he looks to raise $9.4 billion for FTX, according to a report by Reuters.
Per the report, SBF is looking to raise about $1 billion from Sun, another $1 billion from OKX and $2 billion from a group of investment funds.
Dan Loeb's Third Point is among 30 to 40 investors that have access to FTX's data room, but the hedge fund is not talking to FTX about giving more money, Reuters said.
Loeb also denied the Reuters story in a tweet.
Also on Thursday, FTX announced an agreement with Tron to establish a special facility to allow holders of TRX, BTT, JST, SUN and HT to swap assets on a 1:1 basis to external wallets. Things will get underway at 18:30 UTC. The size of the facility is to be determined on a weekly basis. As part of the deal, Tron deposits for all users will be disabled.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.