Tribe Capital aims to provide $250 million in funding to FTX’s restructuring plans.
FTX’s long-running restructuring and stock market relaunch plans are gaining support. Establishing a management mechanism under the name of the Creditors Committee, FTX aims for the processes to be processed quickly and carefully. These initiatives and the reboot plan have also caught the interest of Tribe Capital, which has previously invested in many crypto startups.
Tribe Capital plans to provide $250 million in support for the FTX reboot process.
FTX Finds Support for Reboot Plan
In the news made by Bloomberg, it was stated that Tribe Capital will lead the fundraising of a total of $ 250 million. It was stated that approximately $100 million of this fund will be put by Tribe Capital and the remaining amount will come from partnerships.
In addition, Tribe Capital was previously a major investor in FTX Global and FTX USA. Tribe Capital, which manages nearly $1.6 billion in assets, has invested in several startups, including Kraken, Bolt, and e-commerce vendor Shiprocket.
Tribe Capital’s bid is stated to include FTX USA, FTX Australia, FTX Japan, FTX AB, FTX Global and LedgerX.
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