Crypto Giant FTX in Talks to Raise More Funds After Buying Spree

Crypto exchange FTX, co-founded by billionaire Sam Bankman-Fried, is in talks to raise fresh funding after carrying out a shopping spree during the recent digital-assets market rout.

FTX and its American entity FTX US are both fundraising, according to people familiar with the matter who aren’t authorized to discuss ongoing discussions. FTX is targeting a round at essentially the same valuation as its January fundraising, the people said. In January, FTX announced it raised $400 million at $32 billion valuation, while FTX US raised a separate $400 million at an $8 billion valuation.

Sam Bankman-Fried during the Bloomberg Crypto Summit in New York, on July 19.

Photographer: Jeenah Moon/Bloomberg

A spokesperson for FTX ...