December 5, 2022

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FTX, the crypto exchange run by Sam Bankman Fried, is reportedly conversing with the consumers regarding fundraising of up to $1B while endeavoring to use the additional capital to meet the financial acquisitions amid the declining market. As per a report published recently which refers to the sources linked with the issue, the platform is even now in talks and no details have been provided.

SBF’s FTX Seeks Consent from the Consumers to Raise Funds of $1B for More Acquisitions

On the confirmation of these reports, the present valuation of the company (up to $32B) would be kept intact by the potential funding round. The prospective funding round of almost $1B will be added to approximately $400M (the amount collected by FTX in January).

This will fortify investors’ belief in the organization’ integrity even during this critical period in the crypto market when the department is facing hard times

A report stated that FTX as well as SBT are endeavoring to invest more funds to run the crypto industry which shows how active FTX exchange’s research organization Alamada Research remained during the bear market. Voyager Digital, which is a lender company, has recently filed for bankruptcy.

This unfortunate event stimulated Alameda and FTX to document the proposal for Voyager’s acquisition. This suggestion was censured by Voyager Digital.

Voyager Rejects Binance and FTX’s Bids for Its Remaining Assets’ Auction

Voyager condemned the proposal of FTX in the court of New York by explaining that  FTX is attempting to take all the benefits for itself as It wants to purchase Voyager at a lower cost when Voyager is facing a crisis.

FTX kept on chasing Voyager Digital until 13th September, when it began its asset auction. The Wall Street Journal (WSJ), has stated in Tuesday’s report that, FTX and Binance are on the hunt for Voyager’s assets. The auction will last till 29th September.

Both the crypto exchanges (FTX and Binance) participated in the auction but their bids got disapproved. FTX Ventures has announced that it would acquire almost 30% share in SkyBridge, which is an organization for asset management operating under Anthony Scaramucci.

Formerly in June, FTX signed a contract to buy Bitvo – a crypto venue based in Canada – to broaden its horizon of operations across the country.


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