Looks like SBF is at it again and basically trying to lure investors into investing into FTX. He is looking to raise +$6B or so. I think he is trying to sell some FTX bonds which are paying 10% per year for 3 years and then converted into common stock.
Now I realise that Bitfinex did something similar when they got hacked back in 2015. They raised I think $1B very quickly. And their valuation is much lower back then than FTX today. However they got hacked... SBF committed fraud.
They seem to generate $10-20B in volume daily and $1B in revenue per year. Seems like a profitable company however.... will anyone actually invest billions after what he did? Will people actually still trade on FTX after all this mess?
I give this 10% chance of succeeding....
I think people are well aware of the fraud SBF committed, only those who are close to him or his family will possibly invest to FTX. I would give this fundraising 5% at most to succeed. Besides, I believe many investors will follow CZ 's example of not committing to taking over the FTX since there are already irregularities and investigations from the authority. There is also this hacking incident that further demerit FTX capability in security. So people may think that it is possible that the fund raised will be hacked too.