FTX, the crypto exchange giant founded by Sam Bankman-Fried, is reportedly in talks to raise fresh funding.
Accorrding Bloomberg reported on Wednesday, the firm is seeking a similar valuation to January, when it raised $400 million at a $32 billion valuation in a Series C round, according to the report, which cited unidentified people familiar with the matter. Both FTX and FTX.US, its American unit, are seeking funds.
The push for fresh funding comes as Sam Bankman-Fried’s company has been striking deals to acquire rivals struggling with recent crypto market stress. Last month, crypto lending firm BlockFi announced a deal with FTX.US that would provide the firm with a $400 million revolving credit line and outlines the path to an acquisition.
The exchange looked at making a deal with troubled crypto lender Celsius but ultimately walked away after saw a $2 billion hole in Celsius’s balance sheet, The Block reported last month.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Foxy
CoinCu News
Coinbase responded to the SEC to prevent what it views as an unfair investigation by…
As Shiba Inu (SHIB) continues to evolve its ecosystem with a focus on crypto gaming,…
Analysts predict the spot Ethereum ETF launch in mid-July, with Bitwise amending its S-1 registration…
Despite the presidential debate impact on crypto, Bitcoin and altcoins are down. Mt. Gox sales…
Basel Committee approves cryptoasset disclosure framework and targeted revisions, enhancing transparency and market discipline.
Biden Replacement Memecoins surged: NOOSUM +15%, KAMA +220%, KENIDY +10%, while Jeo Boden fell 37%…
This website uses cookies.