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Cryptocurrency exchange Fred De Sam-Bankman FTX is in talks with venture capitalists to raise $1 billion in additional funding to use the extra money for acquisitions during a bear market.
A CNBC document released Wednesday, citing sources close to the matter, said negotiations are ongoing and details could change. If confirmed, the fund would put FTX's market value at around $32 billion.
The expected $1 billion funding round, on top of the $400 million FTX raised last January, may signal strong investor confidence in the company despite the industry's prolonged virtual currency winter.
Further details are not currently available. According to Link, some of the extra capital will be used for more transactions and strategies in the crypto world, which is not surprising considering how busy SBF and quantitative data company FTX Almada Research are during an uptrend.
Voyager rejected the offer as a low bet for media attention, not white-collar criminals or the New York bankruptcy court offering value to Voyager's customers.
Voyager has been looking for FTX since it started auctioning the remaining funds on September 13th
According to a Wall Street Journal (WSJ) document published on Tuesday, FTX and Binance emerged as the top bidders for the Voyager investment, with Binance bidding $50 million and FTX slightly less. The call for proposals is open until September 29, and no proposals have yet been accepted, according to the WSJ.
Investment group FTX Ventures has announced plans to acquire a 30 percent interest in Anthony Scaramucci's management company, Skybridge Capital.
Last June, FTX agreed to acquire Canadian virtual currency system Bitvo as part of a larger plan to expand its presence in Canada. A month ago, FTX agreed to offer ailing lender BlockFi a $400 million revolving credit line and an option to buy the company for about $240 million.
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