Justin Sun Signals Possible Purchase of Assets From FTX Ventures Portfolio

The venture arm of the exchange FTX holds portfolio assets that are of investment interest, Justin Sun, founder of Tron Foundation, said at the Reuters Next conference.

“FTX Ventures still has many portfolio companies, and we are reviewing them one by one, but the structure is already at the [bankruptcy] stage, so completing the process may take longer,” he said.

Sun did not specify which of his affiliated organizations is considering purchasing the group’s assets. In October 2022 he joined the Huobi exchange’s advisory board.

FTX Ventures was quite active in investing in crypto market participants. For example, in autumn 2022 the division took a stake in SkyBridge Capital run by Anthony Scaramucci.

In March the firm invested $100 million in the digital bank Dave. The transaction was conducted as part of a strategic partnership.

FTX Ventures’ portfolio includes the Aptos project, the Mysten Labs startup and the analytics company Messari.

As a reminder, acquisitions of companies from the FTX portfolio were not ruled out by Binance CEO Changpeng Zhao. He said that Sam Bankman-Fried’s group had invested in a number of projects, some of which “could be saved”.

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