At Its $32 Billion Value, FTX Hopes To Raise To $1 Billion

FTX Exchange Fund Raising

According to those familiar with the conversations, Sam Bankman-crypto Fried's conglomerate FTX is in talks with investors to raise $1 billion in additional capital, which would keep the company's worth at over $32 billion.

Negotiations are ongoing, and the parameters may alter, according to the individuals who requested not to be identified, since the discussions are private. FTX now has investors such as Singapore's Temasek, SoftBank's Vision Fund 2, and Tiger Global.

According to a leaked investor presentation, FTX's sales would increase by more than 1,000% to $1.02 billion in 2021 from $89 million the previous year. FTX earned $388 million in net profits last year, up from $17 million the previous year. According to the financials statement, the momentum continued in the first quarter, with the firm earning $270 million in sales.

FTX Token (FTT)

The crypto exchange token FTX token (FTT) is now ranked #26 with a market valuation of almost $3.1 billion. FTT was trading at $23 at the time of writing, with a trading volume of more than $60 million. Also, three days earlier, Sam Bankman-Fried tweeted about the picture plan to acquire more than 186k FTT worth more than $4 million on FTX exchanges, adding, "That is not investment advise."

Summary

FTX is one of the world's top crypto exchanges by volume, with a daily volume of almost $3 billion. Aside from that, the commercial operations of FTX exchanges have skyrocketed. Therefore the FTX token can skyrocket soon, as Sam did with Solana.

Source: FTX, CNBC, Twitter and Coingecko