FTX in talks to raise funds amid spending spree to prevent contagion

FTX led by Sambankman Fried and its US division FTXUS are in talks to raise new funding, Bloomberg News report July 20th.

Cryptocurrency exchanges reportedly raised $ 400 million in FTX’s $ 32 billion valuation and $ 400 million in FTX US’s $ 8 billion valuation in January Series C funding I am trying to raise an amount with the same evaluation as raising.

Bloomberg said an FTX spokesperson refused to comment on the funding negotiations.

Prevent cryptographic transmission

Reports of FTX looking for new funding are being made in the exchange’s efforts to stop the infection in the crypto market.

FTX US has expanded its $ 400 million credit line to BlockFi in the midst of a cryptocurrency winter. The credit facility had the option for the exchange to buy the suffering company for $ 240 million, depending on its performance.

SBF’s Alameda Ventures also provided Voyager Digital with a $ 200 million and 15,000 Bitcoin (BTC) loan on June 22nd. However, it was later revealed that another SBF-related company, Alameda Research, had a $ 377 million debt to Voyager.

Bloomberg reports that SBF has committed about $ 1 billion to save others during the crypto market crash.

The post-FTX, which is in talks to raise money, first appeared on CryptoSlate as spending was scattered to prevent transmission.

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