Crypto Exchange FTX is Negotiating to Raise Additional Funding

Cryptocurrency derivatives exchange FTX plans to hit a $32 billion valuation following a potential investment round, Bloomberg has reported citing informed sources.

According to the agency, the company’s US branch has similar plans.

In recent months, firms owned by the founder of the platform, Sam Bankman-Fried, have sent about $ 1 billion to support the industry.

FTX.US has issued a $400 million revolving loan to BlockFi and received a $240 million buyback option this month. The parties had previously reached an agreement on a $250 million revolving credit line.

Alameda Research, which is affiliated to the FTX CEO, has previously provided crypto broker Voyager Digital with a USDC 200 million loan and a 15,000 BTC revolving line of credit.