Justin Sun, the founding father of the Tron blockchain, acknowledged he has been working with FTX on a that you’ll want to well also accept as true with resolution to the trade’s ongoing liquidity disaster.

In a series of tweets on Wednesday, Sun acknowledged his group has been “working all over the clock” to position collectively a resolution for FTX to “provoke a course forward.”

“The continuing liquidity crunch, no matter immediate time frame in nature, is noxious to the trade style and investors alike,” acknowledged Sun in a tweet.

It’s unclear whether or no longer Sun’s proposed resolution will be exclusively for Tron token holders on FTX or the trade’s complete userbase. On the opposite hand, some investors were hopeful that Sun could also potentially bail out the now-insolvent FTX after Sam Bankman-Fried retweeted Sun’s announcement.

Earlier in the day, the Wall Facet dual carriageway Journal reported that FTX wished $8 billion in emergency capital in repeat to fulfill investor withdrawals. After Binance walked a ways off from a deal to originate the trade, many were skeptical that someone else had the monetary capacity to create investors complete.

“how noteworthy cash does justin sun realistically include readily accessible? is there an global where he in some system finally ends up owning ftx and making users complete? feels fancy theres with out a doubt some bigger scheme late this,” tweeted one user.

“I’ve clowned his excellency just a few times, nevertheless if he indubitably bails out ftx depositors, he’ll be justifiably lauded as a hero,” tweeted one other.

In the period in-between, news of FTX and Alameda’s insolvency persevered to rattle the market, with Bitcoin and Ethereum each and every down over 11% in the closing 24 hours. Industrial watchers anticipate that there seemingly will be extra be concerned to attain aid from the skill contagion effects of FTX by draw of the trade.

“I in fact don’t include any belief how low this goes. FTX contagion is seemingly wide. Crypto hedge funds extinct. Many miners rekt at these ranges. All leverage getting taken out,” tweeted crypto investor Stack Hodler.