FTX Looking to Raise Another $1.5 billion For a $32 Billion Valuation
Reported in The Information on Friday, unnamed sources “with knowledge of the matter” claim that FTX CEO Sam Bankman-Fried is looking to raise a total of $1.5 billion for his cryptocurrency derivatives exchange and U.S. affiliate, FTX.US.
With this new funding FTX could potentially be valued at $32 billion and FTX.US at $8 billion.
Six weeks ago, FTX closed a $420,690,000 Series B-1 funding round with sixty-nine investors, including BlackRock and Tiger Global, participating in the round. This funding then gave the exchange a valuation of $25 billion, already a 39% increase over its $900 million funding round in July.
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Author: Peter Siu