SBF’s Exchange, FTX, Seeking for Raise Fund
Crypto exchange FTX, founded by Sam Bankman-Fried or SBF, is in talks to raise new funds after massive spending during the recent crypto downtrend.
FTX and FTX US are both fundraising, according to people familiar with the matter who didn’t address the ongoing discussions via Bloomberg. FTX is aiming for essentially the same valuation as last January’s fundraiser, the people said. In January, FTX announced it had raised $400 million at $32 billion, while FTX US raised a separate $400 million at $8 billion.
The FTX itself declined to comment when asked by Bloomberg about the thing.
SBF has positioned itself as a savior behind this by trying to save the BlockFi and Voyager Digital platforms to great credit. Overall, he committed around $1 billion and he also said that he supports several companies whose involvement has not been announced.