{"id":67516,"date":"2022-09-22T10:03:23","date_gmt":"2022-09-22T07:03:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67516"},"modified":"2025-09-07T07:04:27","modified_gmt":"2025-09-07T04:04:27","slug":"ftx-plans-to-raise-1-billion-at-a-32-billion-valuation-according-to-sources","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-plans-to-raise-1-billion-at-a-32-billion-valuation-according-to-sources\/","title":{"rendered":"FTX plans to raise $1 billion at a $32 billion valuation, according to sources"},"content":{"rendered":"

The cryptocurrency exchange FTX is planning to raise $1 billion and confirm the valuation of the previous funding round at $32 billion, according to people familiar with the matter, writes CNBC<\/a>.<\/p>\n

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Terms are not finalised, and talks continue.<\/p>\n

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Rumors about such plans by FTX emerged<\/a> in July 2022.<\/p>\n

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For 2021, the exchange posted revenue of more than $1 billion<\/a>. In the first quarter of 2022, the figure stood at $270 million, according to the publication.<\/p>\n

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According to sources, part of the new capital, in addition to the January $400 million round<\/a>, will go toward closing new deals.<\/p>\n

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FTX chief Sam Bankman-Fried<\/a>, in an interview with CNBC, hinted at a readiness to spend \\”approximately a billion dollars\\”<\/a> on crypto companies and projects.<\/p>\n

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In the summer, entities linked to him directed<\/a> a similar amount to support the industry. Prior to that, the head of FTX promised to allocate \\”billions\\”<\/a> for buying stakes in other companies.<\/p>\n

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In the Voyager Digital asset auction, the most favorable bid was submitted by FTX<\/a>. In June, Alameda Research provided<\/a> a loan of $500 million to the crypto broker, which had not yet filed for creditor protection.<\/p>\n

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In May, Emergent Fidelity Technologies acquired<\/a> 7.6% of Robinhood. Later, hedenied<\/a> speculation about buying the online broker.<\/p>\n

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In June, FTX acquired<\/a> the Canadian-regulated cryptocurrency platform Bitvo. According to reports, the exchange is in talks with several companies<\/a> focusing on traditional securities, as well as considering acquiring a stake in the lending platform BlockFi<\/a>.<\/p>\n

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Also in June, FTX opened<\/a> a revolving credit line of $250 million for BlockFi. Subsequently, the exchange’s US subsidiary extended the firm another revolving credit line of $400 million, obtaining an option to acquire the platform<\/a> for $240 million.<\/p>\n

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In August, Bloomberg reported Bankman-Fried’s interest in acquiring 58% of the shares of the bitcoin exchange Huobi (later the executivedenied<\/a> this), a month earlier \u2014 talks about acquiring the Korean platform Bithumb<\/a>.<\/p>\n

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Last year, FTX agreed to acquire the Japanese cryptocurrency exchange Liquid and its subsidiaries<\/a>. In June, it was renamed to FTX Japan<\/a>, which became a unit servicing local customers.<\/p>\n

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Read ForkLog’s bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency exchange FTX plans to raise $1 billion and confirm the valuation of the previous funding round at $32 billion, CNBC reports, citing sources familiar with the matter.<\/p>\n","protected":false},"author":1,"featured_media":67517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,1133],"class_list":["post-67516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67516"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67516\/revisions"}],"predecessor-version":[{"id":67518,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67516\/revisions\/67518"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67517"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}