Sam Bankman-Fried's crypto conglomerate FTX is in talks with investors to raise up to $1 billion in new funding that would keep the company's valuation at roughly $32 billion, according to people with knowledge of the discussions.
Negotiations are ongoing and the terms could change, said the sources, who asked not to be named because the talks are confidential.
Coindesk previously reported on a coming investment at flat valuation, following FTX's last capital raise in January. Existing investors include Singapore's Temasek, SoftBank's Vision Fund 2 and Tiger Global.
An FTX spokesperson declined to comment. While its rivals and peers have been pummeled in this year's «crypto winter,» FTX has tried to bill itself as the market consolidator, swooping in to buy distressed assets at a discount.Read more on cnbc.com