Media: FTX plans to attract new investments after series of major acquisitions

During the collapse of the digital asset market, the company made deals worth around $1 billion

21.07.2022 - 09:45

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1 min

What’s new? Billionaire Sam Bankman-Fried’s cryptocurrency exchange FTX is in talks to raise new funds after making some major acquisitions during the market downturn. This is reported by Bloomberg, citing anonymous sources familiar with the matter. In total, the company made deals worth about $1 billion during the digital asset market collapse.

News on the Bloomberg website

What is known about FTX’s plans? According to Bloomberg’s interlocutors, FTX and its US unit, FTX US, are planning new funding rounds of a similar size to those that took place in January. In January FTX reported raising $400 million at a valuation of $32 billion, FTX US also raised $400 million at a valuation of $8 billion. Representatives of the exchange declined to comment when asked by reporters about the talks.

Earlier, Sam Bankman-Fried announced a number of major deals on the part of the companies he heads: the purchase of a stake in the Robinhood broker of $648 million, providing loans to the crypto platform BlockFi ($400 million) and broker Voyager Digital (15 000 BTC and $200 million), as well as the purchase of Canadian crypto platform Bitvo.

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