2023-04-23
Link: twitter.com/FTX_Committee/status
Tribe Capital is a venture capital firm
that invests in early-stage startups with a focus on data and AI. The firm was
founded by former Facebook executives and engineers who have deep expertise in
building and scaling data-driven products and platforms. It has $1.6 billion worth of
assets.
Tribe Capital co-founder Arjun Sethi has been reportedly in talked with unsecured creditor committees of FTX to restart FTX cryptocurrency exchange. The talk has started in January 2023. Tribe Capital wants to offer $250 million as a fund to reboot FTX. Tribe Capital itself will contribute $100 million fund and another $150 million will come from its partners.
According to the reboot plan Tribe Capital will receive information of all FTX’s cutomers accounts which is about 9 million users, FTX US, FTX Australia, FTX Japan, FTX EU, FTX International and LedgerX. It will not receive venture capital investments from FTX and cryptoassets from FTX.
FTT price has increased 40% from $1.25
to $1.72 in response to the news.
