Cryptocurrency

Justin Sun or CZ Binance Might Consider Negotiating Cryptopia Exchange Buyout As Tragedy Worsens

  • Justin Sun or CZ Binance might be in for negotiating Cryptopia buyout
  • Justin Sun looking for an exchange to salvage out of trauma.

The news of $15 million lost on the New Zealand-based cryptocurrency exchange Cryptopia can be dated back to January 2019, despite months of legwork from the team behind the exchange to return things to normalcy, people seem not contended with their approach as they continue to lose confidence in the exchange.

As the debacle worsens, Cryptopia’s customers are raising their discontentment about the whole situation and the possibility of filing a legal suite against the firm.

However, while observers continue to stay at vigil, spectating the whole scenario, there have been assertions that a possible buyout of the exchange might prevail to help cushion the effect through the approach of a new management.

After Cryptopia publicly disclosed that it has employed Russell Moore and David Ruscoe as liquidator to help secure the remaining assets on the platform, a veteran forex trader who drifted into Bitcoin on discovery in 2013, said he’s wondering if Binance CEO CZ Binance, or Tron’s Justin Sun would be considering a buyout negotiation with the management to help bail the exchange out of its predicaments.

Known as Mr Coin, the veteran trader said it is expected that about 2 million investors would be affected in the yet unraveled hack.

Although it might seem unclear why he choose Sun as part of the potential buyers if a buyout finally result, but the option of Changpeng Zhao must have been due to his dependable experience and encounter in a recent hack which took place on his exchange.

Justin Sun Looking For an Exchange To Salvage

Mr Coin, in another statement, gave a hint for the reason he highlight the millennial CEO, Justin Sun.

While banking on the assistance Justin Sun offered in the latest 7000 BTC attack on Binance, Mr Coin said he might be in search for an exchange to salvage out of worrying times.

He added that Cryptopia, in this situation, is thus an excellent option.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Khalid Lawal

Lawal Khalid is an avid entrepreneur and a peace advocator. He takes time developing expertise in journalism, and he has significant contributions at Arianna Huffington's Thrive Global, Oracle Times, Coin Gape and a host of other notable news publications.

Owing to his long time interest in innovative technology, Lawal cut into the blockchain world, and he has been unearthing meaningful investigation as well as noteworthy blockchain researches.

Khalid sits at the helm of NewsLogical.com as a full time journalist and a senior market analyst.

Email: lawal.khalid@newslogical.com

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