FTX wants to raise up to $1 billion at its $32 billion valuation: CNBC

Quick Take

  • CNBC reports FTX is raising up to $1 billion in new funding at a valuation close to its previously established $32 billion.
  • Sources tell CNBC that the funding would go to additional dealmaking.

Crypto exchange FTX reportedly is in talks to raise up to $1 billion in new funding and keep its valuation close to the previously established $32 billion. 

CNBC first reported the news, citing people with knowledge of the discussions. An FTX spokesperson declined to comment to The Block.

The firm was looking to raise more funding in July of this year. At that time, reports indicated it was looking for a similar valuation to its previous raise. The January Series C round saw the exchange raise $400 million at a $32 billion valuation. 


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Negotiations are still ongoing and terms are subject to change. The capital would go towards additional dealmaking, CNBC reported. 

Since the onset of crypto winter, FTX has been on a buying spree, purchasing distressed assets and making deals with struggling firms. In June, it brokered a deal with BlockFi that outlines a path to acquiring the lender. 

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to akeely@theblock.co or follow her on Twitter for updates @AislinnKeely.