FTX in Talks with Investors to Raise $1 Billion for New Acquisitions - Reports

Potential $1 billion funding round would add to $400 million FTX raised in January as company seeks more capital to grab offers in the middle of crypto winter.

Sam-Bankman Fried's crypto exchange, FTX, is reportedly in talks with investors to raise $1 billion in new funds as it seeks to use additional capital for financial acquisitions during the bear market.

According to a CNBC Wedn report that cites sources familiar with the matter, talks are still ongoing and details could still be subject to change. If true, the funding amount would keep FTX's current valuation of around $32 billion intact.

The potential $1 billion funding round would add to the $400 million FTX raised in January and could signal strong investor confidence in the company despite the industry's long crypto winter.

Other details are scarce at this point. However, sources said some of the new funds will be invested in the crypto space, which is unsurprising given the activity of FTX and SBF's quantitative research firm, Alamada Research, in the market. bearish.

A potential acquisition by FTX of embattled crypto lender Voyager Digital has been brewing since July after it submitted a joint proposal with Alameda to buy Voyager following its bankruptcy filing.

The proposal was criticized by Voyager, describing it in New York bankruptcy court filings as "a low bid disguised as a white knight rescue" and as a move "designed to generate publicity for it- even rather than value for Voyager customers."

FTX remained on the hunt, however, as Voyager launched the auction of its remaining assets on September 13.

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