FTX to Seek $1.5B in New Funding Round at $32B Valuation: Report
The company’s CEO Sam Bankman-Fried will ask investors to purchase shares in its U.S. affiliate, FTX.US, at an $8 billion valuation.
Dec 4, 2021 at 7:18 p.m. UTCUpdated May 11, 2023 at 4:09 p.m. UTC
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FTX CEO Sam Bankman-Fried is looking to raise a total of $1.5 billion for the global cryptocurrency derivatives exchange and its U.S. affiliate, FTX.US, The Information reported Friday, citing two unnamed sources “with knowledge of the matter.”
- The funding round would potentially value FTX at $32 billion and FTX.US at $8 billion, the article said, citing one of the sources. FTX did not immediately respond to a CoinDesk request for comment.
- The latest discussions follow less than six weeks after FTX closed a $420,690,000 Series B-1 funding round. Sixty-nine investors, including BlackRock and Tiger Global, participated in the round.
- Investors valued the exchange then at $25 billion, FTX said, a nearly 39% jump over the Series B sticker price from July when it raised a whopping $900 million in crypto’s largest-ever venture capital funding round.
- Bankman-Fried told CoinDesk at the time that the company was planning a series of acquisitions and partnerships to get FTX into more countries, with more users.
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James Rubin was CoinDesk's U.S. news editor based on the West Coast.