New York It would be a desperate move: Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, still believes he can raise enough money to compensate his users, according to US media reports.

The Wall Street Journal, citing insiders, reported Tuesday that Bankman-Fried spent the weekend calling potential investors along with some remaining employees.

So they should close the liquidity gap of up to $8 billion to cover up to one million FTX customers.

But efforts to find new investors have so far been unsuccessful, the report says. It also remained unclear what the founders, known as “SBF”, might offer in return for another cash injection.

“I screwed it up,” Bankman-Fried reportedly said in a conference call with investors. He would be “incredibly, incredibly grateful” if new investors could help.