VC firm TribeCapital considers pouring new funds into insolvent FTX
The San Francisco-based VC firm Tribe Capital is considering pouring new funds into the insolvent cryptocurrency exchange FTX.The San Francisco-based venture capital firm Tribe Capital, which previously invested in FTX prior to its demise, is considering pouring new funds into the insolvent cryptocurrency exchange., the VC firm is considering leading a $250 million fundraising drive, with $100 million coming from itself and its limited partners.
Tribe’s January proposal consisted of an estimated 9 million user accounts, FTX US, FTX Australia, FTX Japan, FTX EU, FTX International, and LedgerX while excluding, among other things, a venture capital portfolio and crypto assets.On 18 April, the Official Committee of FTX Unsecured Creditorson Twitter that the Committee is working with the debtors to investigate all alternatives for restarting or selling the FTX exchange and creating value for creditors.
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