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

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

FTX CEO Sam Bankman-Fried is looking to raise a total of $1.5 billion for the global cryptocurrency derivatives exchange and U.S. affiliate, FTX.US, The Information reported Friday, citing two unnamed sources “with knowledge of the matter.”

The funding round would potentially value FTX at $32 billion and FTX.US at $8 billion, the article said, citing one of the sources. FTX did not immediately respond to a CoinDesk request for comment.The latest discussions follow less than six weeks after FTX closed a $420,690,000 Series B-1 funding round. Sixty-nine investors, including BlackRock and Tiger Global, participated in the round.Investors valued the exchange then at $25 billion, FTX said, a nearly 39% jump over the Series B sticker price from July when it raised a whopping $900 million in crypto’s largest-ever venture capital funding round.Bankman-Fried told CoinDesk at the time that planning a series of acquisitions and partnerships to get FTX into more countries, with more users.

Read more: FTX Crypto Exchange Finalizes LedgerX Acquisition

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