Opinion

SBF Just Extorted Justin Sun for a Billion Dollars – Says Popular Youtuber Ben Armstrong

Author: Elena R

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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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According to a Reuters report, justin sun promised to provide the troubled company with billions of dollars in aid in order to help it solve its rising difficulties. The impact of Justin Sun’s intervention on Tron was questioned given that FTX had already filed for bankruptcy. Crypto influencer BitBoy responded by alleging that SBF merely used Sun as a means of extortion to obtain billions of dollars.

In a more recent tweet, Bitboy claims SBF is trying to save the exchange by threatening to dump and depeg USDD unless Justin Sun provides support and liquidity. Notably, bitboy was the first to rightly identify Sam Bankman Fried; even before the information was made public, he called out the CEO of FTX and claimed he was about to destroy cryptocurrency.

David Schwartz, the chief technology officer of Ripple, tweeted that Bitboy “was warning us that SBF FTX was the devil even before there was good reason to,” with some speculating that Ripple may be making a U-turn about Bitboy’s application to work there.

This follows rumors that Alameda has been selling USDD to the exchange to boost liquidity after the native FTX token dropped 90% of its value, causing the stablecoin to depeg. At the time of publication, the USDD native to the Tron Blockchain was trading at $0.98, down 1.10% over the previous day.

Following Binance’s changpeng zhao disclosure of the exchange’s decision to sell its FTT holdings, the ensuing drama on Crypto Twitter resulted in a series of revelations that caused a wave of FTT selloffs that significantly impacted the asset.

binance , which stepped in to help with a bailout plan that included a full acquisition, withdrew from the agreement after doing due diligence, which revealed a history of financial mismanagement and suspected investigations by US agencies.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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