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.
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.
© 2022 The Block Crypto, Inc. 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.