FTX could relaunch – and one of its former backers might round up hundreds of millions of dollars' worth of capital to aid its revival efforts,Tribe Capital is considering leading a $250 million fundraising effort to help reboot the failed crypto exchange, Bloomberg said, citing people familiar with the matter.
San Francisco-based Tribe was founded in 2018 and currently manages over $1.6 billion worth of assets. FTX founder and CEO Sam Bankman-Fried was arrested in the Bahamas the following month and extradited to the US, where he's been charged with eight counts of fraud. Tribe's proposal in January would relaunch FTX US, FTX Australia, FTX Japan, FTX EU, FTX International and LedgerX, Bloomberg said.
It'll be doa except for the hedge fund billionaires laundering money.