Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

Troubled crypto exchange FTX will conduct a fundraise next week, Reuters reported, citing an internal memo.

The raise could end up being for FTX International and FTX US combined. The news come a day after FTX's deal to sell itself to rival Binance fell through.

Hours after the Binance pull back, Tron founder Justin Sun said that he is "putting together a solution" for the beleaguered FTX.

In the memo cited by Reuters, FTX founder Sam Bankman-Fried said that he has held talks with Sun for a fundraise.

UPDATE (Nov. 11, 13:22 UTC): Adds details from Reuters, background and additional details.




Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

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.

CoinDesk - Unknown

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

CoinDesk - Unknown

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.