Tron founder Justin Sun ready to give billions in aid to FTX – Bloomberg

(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.

The 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 Koyyur)