FTX to raise $1 billion to buy new crypto companies

The total valuation of the exchange is now at $32 billion

22.09.2022 - 11:00

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1 min

What’s new? Cryptocurrency exchange FTX is in talks with investors to raise $1 billion to buy new companies operating in the field of digital assets. According to CNBC sources, this funding will keep the platform’s preliminary valuation at $32 billion. Confidential negotiations are underway and the terms of the deal are subject to change. FTX investors include Temasek, SoftBank’s Vision Fund 2, and Tiger Global.

CNBC’s material

What is known about FTX? It is a centralized cryptocurrency exchange for trading derivatives headquartered in the Bahamas. It was created in 2018 by trader Sam Bankman-Fried and programmer Gary Wang. As of 2022, the platform has more than one million registered users. Its daily trading volume as of September 22 is $2,9 billion, according to CoinMarketCap. The platform features 340 coins and 524 currency pairs.

Earlier, it was reported that the venture division of FTX plans to buy a stake in investment company SkyBridge Capital.

Also, Sam Bankman-Fried’s companies won the auction to buy the assets of the bankrupt crypto broker Voyager Digital. Under the terms of the deal, Alameda Research will pay off $200 million in debts to creditors of the crypto broker.

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