FTX and FTX US Seek Even More Funding Following Acquisitions: Report
The leading crypto exchange and its US arm closed separate $400 million funding rounds in January.
New
Crypto exchange FTX and its US subsidiary FTX US have each reportedly set new fundraising targets following the companies planning several high-profile acquisitions and corporate lines of credit.
According to a report by Bloomberg on Wednesday, FTX co-founder Sam Bankman-Fried discussed a fundraise matching that of a January funding round in which the company closed a $400 million round, bringing its valuation to $32 billion. FTX US has reportedly set similar targets, having raised $400 million in January to reach a valuation of $8 billion.
The report followed the two companies’ acquisition of numerous businesses that appear to be struggling financially amid the crypto market downturn. FTX US announced plans in May to buy Embed Financial Technologies in a deal to "enhance" the company's stock offering. The exchange then signed an agreement with BlockFi for a $400 million revolving credit...
The leading crypto exchange and its US arm closed separate $400 million funding rounds in January.
New
Crypto exchange FTX and its US subsidiary FTX US have each reportedly set new fundraising targets following the companies planning several high-profile acquisitions and corporate lines of credit.
According to a report by Bloomberg on Wednesday, FTX co-founder Sam Bankman-Fried discussed a fundraise matching that of a January funding round in which the company closed a $400 million round, bringing its valuation to $32 billion. FTX US has reportedly set similar targets, having raised $400 million in January to reach a valuation of $8 billion.
The report followed the two companies’ acquisition of numerous businesses that appear to be struggling financially amid the crypto market downturn. FTX US announced plans in May to buy Embed Financial Technologies in a deal to "enhance" the company's stock offering. The exchange then signed an agreement with BlockFi for a $400 million revolving credit...
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