Since Justin Sun, the CEO of Tron, said that a solution was being developed to allow users to “get back to normality,” he has emerged as the next potential rescuer of FTX.
Without a capital infusion, Sam Bankman Fried’s firm might file for bankruptcy following the failure of Binance’s rescue attempt for FTX.
Sun has now entered the debate, asserting that an answer is being developed “to revive and restore normalcy for all FTX users.”
Holders of TRX, SUN, JST, BTT and HT will be able to redeem them on a 1:1 ratio even if withdrawals from FTX fail, according to a statement published by the Huobi exchange, for whom Sun serves as an executive adviser.
“In other words, no matter how things evolve, Tron DAO and Huobi will do their best to support the exchange of the TRON tokens deposited on the FTX platform at a 1:1 ratio, including during the words case scenario that we all know may happen.” – said Justin Sun.
FTX and Sun’s team were collaborating on a solution “to establish a route ahead,” Sun added in a tweet.