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Holders of Tron’s tax coins will get assistance in moving them off the flailing FTX exchange
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A modest number of FTX investors will get assistance moving their assets off of the collapsing crypto exchange from the Tron network.
FTX, which is facing liquidity issues, announced that Tron will establish a facility to allow holders of its trx token and four other cryptocurrencies associated with founder Justin Sun to move assets to external wallets. The facility will begin at $13 million, which is just a drop in the bucket when compared with the $8 billion of emergency funding that the Wall Street Journal reported FTX has said it needs.
Besides trx, the tokens are bittorrent, sun, just and huobi. Trx was the only one in the top 20 cryptos traded by value on FTX.
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Further liquidity injections will be determined weekly, FTX said.
Sun signaled that the tokens might be supported in a Twitter posting yesterday that came after the Binance exchange withdrew a tentative bailout of FTX.
Tron’s trx was up 7.7% over the past 24 hours at 5.8 cents in the New York afternoon, according to nomics. It ended last Friday, before the problems at FTX became known, at 6.3 cents. Among the other tokens, bittorrent gained 9.4%, sun 5.8% and just 8.5%, whil huobi fell 1.4%..
