Sources Informed: FTX Is Raising Funds For A Potential Acquisition

Cryptocurrency exchange FTX is raising funds in parallel with a potential acquisition, according to CoinDesk citing sources. FTX is evaluating several possible acquisition targets, some of which operate retail trading platforms, and talks are in the preliminary stages, the person said, reducing the likelihood of FTX raising capital if acquisition talks fall through. In addition, the person familiar with the matter said that if it raises funds, FTX hopes to obtain the same $ 32 billion valuation as when it last raised funds earlier this year. Foresight News previously reported that in June, FTX founder Sam Bankman-Fried purchased 56 million shares of Robinhood, accounting for 7.6% of the shares, becoming the third largest shareholder of Robinhood, and expressed his willingness to cooperate with Robinhood, but did not actively conduct mergers and acquisitions dialogue ; Subsequently, the Robinhood CEO denied the FTX merger rumors.