Sam Bankman-Fried is looking for new investors

New York It would be a desperate maneuver: According to US media reports, the founder of the FTX cryptocurrency exchange, Sam Bankman-Fried, still believes he can raise enough funds to compensate his users.

The Wall Street Journal, citing people familiar with the matter, reported Tuesday that Bankman-Fried spent the weekend with the handful of remaining employees contacting potential investors.

So this should bridge the eight billion dollar liquidity gap in order to compensate up to a million FTX customers after all.

The chances of success appear to be slim: according to reports, efforts to find new investors have so far been unsuccessful. It also remained unclear what the founder, named SBF, would offer in exchange for another infusion of cash.

Bankman Fried is reported to have said on a conference call with investors, “You got it wrong.” He would be “incredibly grateful” if new investors could help.