SBF tells investors FTX needs $8 billion in emergency funding: WSJ

FTX CEO Sam Bankman-Fried has asked investors for emergency funding to cover a shortfall, according to reports of $8 billion in an investor call on Nov. 9.

Sam Bankman-Fried has reportedly asked investors for $8 billion in emergency funding to cover a shortfall caused by the influx of withdrawal requests to his crypto exchange in recent days.

According to a Wall Street Journal (WSJ) report citing "people familiar with the matter," the CEO made the request to investors during a Nov. 9 call where he outlined ways to help resolve FTX's financial problems.< /p> [embedded content]

The source suggests that Bankman-Fried is looking to raise $3-4 billion in equity and that the exchange may incur debt to cover the shortfall.

Bankman-Fried also reportedly said he would use his personal wealth to "make clients and investors whole," according to the WSJ source.

It is also understood that during the call, the CEO of FTX blamed some of the blame for FTX's predicament on what he says was a campaign against the exchange, which caused a series of investors looking to withdraw money for fear of losing their investment.

A November 8 Reuters report suggests that FTX saw about $6 billion in withdrawals in 72 hours...