Bloomberg: FTX in talks to raise more funds

The cryptocurrency exchange FTX is expected to be valued at $32 billion following a potential funding round, according to people familiar with the matter. Bloomberg reported.

Similar plans exist for the company’s U.S. unit.

The report notes that over the past months the firms owned by founder Sam Bankman-Fried have deployed roughly $1 billion to support the industry.

In July, FTX US extended a revolving credit facility to BlockFi in the amount of $400 million with an опциона на выкуп for $240 million. Earlier the parties reached an agreement on a revolving credit line of $250 million.

Prior to that, Alameda Research provided Voyager Digital with a loan of $200 million in USDC and a revolving credit line of 15,000 BTC (~$300 million).

Earlier, the CEO of FTX pledged to spend “billions” on acquiring stakes in other companies.

Sam Bankman-Fried rejected reports that the bitcoin exchange is considering buying “problematic” mining firms and plans to acquire the online broker Robinhood. He also warned of “hidden insolvencies” among some crypto exchanges.

Read ForkLog’s educational cards about Bankman-Fried in ForkLog’s educational cards.

In January 2022, FTX raised $400 million at a $32 billion valuation, while its U.S. subsidiary also raised $400 million.

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