Its been around two months since the collapse of FTX and the company filing for Chapter 11 bankruptcy but the bitter details that happened during the crisis continue to pop up even recently.
According to a report by Forbes, Tether which is the issuer of USDT stablecoin received a call from the disgraced founder of FTX, Sam Bankman Friedman just ahead of filing for bankruptcy.
It does seem like SBF was trying to knock at every possible door to stop the ship of FTX from sinking.
Credits: CryptoSlate
According to reports, even Binance pulled out of the deal after initial support.
Seeing the collapse of his empire, SBF tried to reach out to Tether for financial help, according to Paolo Ardoino, Tether CTO.
According to Forbes, Tether CTO said:
“He suddenly asked for something that he had never asked for before, and he wasn’t talking about $10 million. The way he was talking suggested that he had a big issue. His request was in the billions.”
SBF was desperately trying to contact to save FTX from collapse but he couldn't succeed.
Tether itself had some bittersweet moments. Despite multiple instances of scrutiny, it managed to stood its grounds.
FTX was one of the biggest partners of Tether.
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