FTX plans to push its valuation to $32 billion, according to reports

FTX CEO Sam Bankman-Fried plans to raise a total of $1.5 billion in investments for the global derivatives exchange and the U.S. platform FTX.US, according to The Information, citing its own sources.

According to them, the potential funding round would push FTX’s valuation to $32 billion, and its U.S. subsidiary to $8 billion.

In October the exchange closed a Series B-1 financing round worth $420.69 million, after which its valuation reached $25 billion. The round drew 69 investors, including BlackRock, Tiger Global and Temasek.

Temasek was also part of the industry-record July Series B financing round of $900 million and increased its size to $1 billion.

The publication noted that these investments did not involve the U.S. subsidiary.

In the third quarter, FTX.US trading volumes surged by 512%. The platform accounted for a 4.5% share of the U.S. spot market.

As reported in September, the parent company relocated its headquarters from Hong Kong to the Bahamas after its ‘daughter’ FTX Digital Markets obtained a license from the local regulator.

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