According to a Reuters report, Justin Sun promised to provide the troubled company with billions of dollars in aid in order to help it solve its rising difficulties. The impact of Justin Sun’s intervention on Tron was questioned given that FTX had already filed for bankruptcy. Crypto influencer BitBoy responded by alleging that SBF merely used Sun as a means of extortion to obtain billions of dollars.In a more recent tweet, Bitboy claims SBF is trying to save the exchange by threatening to dump and depeg USDD unless Justin Sun provides support and liquidity. Notably, bitboy was the first to rightly identify Sam Bankman Fried; even before the information was made public, he called out the CEO of FTX and claimed he was about to destroy cryptocurrency.GET OUT OF USDD NOW (TRX Stablecoin)Justin Sun: I’m going to possibly buy FTX to save cryptoSBF: RetweetsAlameda under SBF direction: DUMP EEEETUSDD: DepegsStables across the board are not safe right now. Not what you wanted to hear I know. Ben Armstrong (@Bitboy_Crypto) November 10, 2022 David Schwartz, the chief technology officer of Ripple, tweeted that Bitboy “was warning us that SBF FTX was the devil even before there was good reason to,” with some speculating that Ripple may be making a U-turn about Bitboy’s application to work there.Say what you want about @Bitboy_Crypto (and I certainly do), but he was warning us that @SBF_FTX was the devil before there was even any good reason to.— David “JoelKatz” Schwartz (@JoelKatz) November 10, 2022 This follows rumors that Alameda has been selling USDD to the exchange to boost liquidity after the native FTX token dropped 90% of its value, causing the stablecoin to depeg. At the time of publication, the USDD native to the Tron Blockchain was trading at $0.98, down 1.10% over the previous day.Following Binance’s CZ disclosure of the exchange’s decision to sell its FTT holdings, the ensuing drama on Crypto Twitter resulted in a series of revelations that caused a wave of FTT selloffs that significantly impacted the asset.Binance, which stepped in to help with a bailout plan that included a full acquisition, withdrew from the agreement after doing due diligence, which revealed a history of financial mismanagement and suspected investigations by US agencies.Was this writing helpful?
