News22 September 2022

FTX is in search of funding to raise the company's value to $32 billion


The exchange has yet to comment on this information. According to reports, the crypto exchange is urgently seeking $1 billion to expand its areas, part of the amount is to go towards buying crypto winter affected exchanges.

If CNBC reports are to be believed, this $1 billion raise will be the second in 2022. Some of the capital raised will be used for other deals, such as buying other cryptocurrency exchanges affected by crypto winter. So far, the exchange has not issued an official position on such reports.

In addition to these acquisitions, FTX continues to expand in the U.S. through strategic partnerships with other companies such as GameStop. In the same year, the FTX conglomerate acquired its first cryptocurrency company, Blockfolio, for $150 million to offer app trading services to U.S. users while complying with U.S. law.

FTX is still one of the few companies that have grown a lot in the last year.


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