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FTX to Raise $1B at $32B Valuation: Report

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Cryptocurrency exchange FTX is in talks with a group of investors to raise $1 billion to keep its valuation at $32 billion, CNBC has learned, citing sources close to the discussions.

However, the talks are still ongoing, which means the terms could change. As of press time, FTX made no official comments regarding the matter. The news comes shortly after Sam Bankman-Fried, the CEO of FTX, hinted in an interview with CNBC that he is willing to spend "approximately $1 billion" on cryptocurrency companies and projects.

In July, FTX and its American entity FTX.US were seeking new funding after the exchanges had lent millions to troubled crypto firms. According to reports, FTX and FTX.US were trying to raise $800 million in total.

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 9/22/2022

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