FTX is reportedly in talks with investors to raise a whopping $1 billion, some of which will be used for bear-market wheeling and dealing, according to CNBC sources.
Sam-Bankman Fried’s crypto exchange FTX is reportedly engaged in talks with investors to raise $1 billion in new funding, as it looks to utilize extra capital for financial acquisitions during the bear market.to a Sept. 21 report from CNBC which cites sources close to the matter, the talks are still ongoing and the details could still be subject to change.
Other details are sparse at this stage, however, the sources said some of the new funds would be put towards more wheeling and dealing in the crypto space, which is unsurprising given how active FTX and SBF’s quantitative research firmA potential FTX acquisition of beleaguered crypto lender Voyager Digital has been rumbling on since July, after it outlined a joint proposal with Alameda to purchase Voyager following its filing for bankruptcy.
The proposal was slammed by Voyager, describing it in New York bankruptcy court filings as “a low-ball bid dressed up as a white knight rescue” and as a move “designed to generate publicity for itself rather than value for Voyager’s customers.”
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