FTX acquisition price of $1! Justin Sun: Developing solutions, TRX and HT liquidity to zero on FTX

According to Blockworks' report, the initial price for Binance's acquisition of FTX was $1, but if FTX were to be acquired at this price, it would entail taking on several billion dollars in debt. Earlier reports suggest that this debt could be as high as $8 billion.

Justin Sun: Working on a Solution

Following Binance's announcement of the cancellation of the acquisition, Tron founder Justin Sun seems to be extending an olive branch. He announced yesterday the "1:1 rigid redemption of all TRC20 tokens within the FTX platform" on Huobi, and today he commented on the FTX incident.

"We are working on a solution with FTX to pave the way forward," said Justin Sun.

However, there is currently no rigorous rescue plan proposed, and further observation is needed. However, SBF has retweeted this tweet.

Further to my announcement to stand behind all Tron token (#TRX, #BTT, #JST, #SUN, #HT) holders on #FTX, we are putting together a solution together with #FTX to initiate a pathway forward. @FTX_Official

— H.E. Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) November 10, 2022

Furthermore, based on Justin Sun's promise yesterday, FTX TRC20 tokens TRX, BTT, JST, SUN, and HT have become the last opportunity for funds to exit from FTX. As a result, all prices have surged.

However, due to users rushing to buy these tokens, buying pressure far exceeds selling pressure, with the current TRX and HT liquidity nearly depleted and significant price spreads compared to other exchanges.