EXCLUSIVE Bankman-Fried seeks $9.4 bln package for FTX rescue-sources

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[1/2] FTX logo is seen in this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/Illustration

NEW YORK, Nov 10 (Reuters) - Sam Bankman-Fried is seeking to put together a rescue package of up to $9.4 billion for his troubled cryptocurrency exchange FTX, a person with direct knowledge of the matter said on Thursday.

Bankman-Fried is discussing raising about $1 billion from crypto-token Tron founder Justin Sun, $1 billion from cryptocurrency exchange OKX, $1 billion from cryptocurrency firm Tether and $2 billion from a consortium of investment funds, the source said.

The remainder would come from other investors, the source added. One of the investors in talks with FTX is Daniel Loeb's hedge fund Third Point, according to the source.

Bankman-Fried has had little progress so far in putting the rescue package together, according to the source. Yet he has resisted filing for bankruptcy and has refused to appoint restructuring advisers, the source said. The situation is fluid and the deliberations could quickly change, the source added.

The source requested anonymity because the matter is confidential. FTX, Sun, OKX and Third Point did not immediately respond to requests for comment.

Reporting by Anirban Sen in New York Editing by Greg Roumeliotis

Our Standards: The Thomson Reuters Trust Principles.

Thomson Reuters

Anirban Sen is the Editor in Charge for U.S. M&A at Reuters in New York, where he leads the coverage of the biggest deals. After starting with Reuters in Bangalore in 2009, Anirban left in 2013 to work as a technology deals reporter in several leading business news outlets in India, including The Economic Times and Mint. Anirban rejoined Reuters in 2019 as Editor in Charge, Finance to lead a team of reporters, covering everything from investment banking to venture capital. Anirban holds a history degree from Jadavpur University and a post-graduate diploma in journalism from the Indian Institute of Journalism & New Media. Contact:+1 (646) 705 9409

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