The Blubber

FTX founder Sam Bankman-Fried is trying to raise cash to repay customers after the company's bankruptcy filing
11/15/2022

Founder of bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried, is seeking commitments from investors to raise fresh cash, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

The former chief executive and a few remaining employees at FTX have spent the past weekend calling around in search of commitments from investors, the report said.

The Wall Street Journal could not determine if any investors have committed. A spokesperson for FTX did not immediately respond to a Reuters request for comment.

The company has been scrambling for funds since earlier this month after larger rival Binance backed out of a deal to buy FTX.

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