FTX to Seek $1.5B in New Funding Round at $32B Valuation: Report

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FTX CEO Sam Bankman-Fried is wanting to elevate a complete of $1.5 billion for the worldwide cryptocurrency derivatives alternate and U.S. affiliate, FTX.US, The Information reported Friday, citing two unnamed sources “with knowledge of the matter.”

  • The funding spherical would probably worth FTX at $32 billion and FTX.US at $8 billion, the article mentioned, citing one of many sources. FTX didn’t instantly reply to a CoinDesk request for remark.
  • The newest discussions comply with lower than six weeks after FTX closed a $420,690,000 Series B-1 funding spherical. Sixty-nine traders, together with BlackRock and Tiger Global, participated in the spherical.
  • Investors valued the alternate then at $25 billion, FTX mentioned, an almost 39% soar over the Series B sticker worth from July when it raised a whopping $900 million in crypto’s largest-ever enterprise capital funding spherical.
  • Bankman-Fried informed CoinDesk at the time that planning a collection of acquisitions and partnerships to get FTX into extra international locations, with extra customers.