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 would give 0% chance of succeeding. Also even if FTX will try to raise the funds, I am still not confident that they will be able to recover the people's money. FTX hack and drama is a nightmare for people who stored a lot of funds in that exchange. Also, those who invested in ftt tokens are in a severe loss.
Let's suppose FTX comes back, will you be confident to deposit and start trading there ? Even with the new CEO of FTX, i will never ever go back to FTX. I am done with it and accepted that my loss can never be recovered.