CryptoFunding

FTX To Raise $1B To Maintain Its $32B Valuation
FTX To Raise $1B To Maintain Its $32B Valuation

FTX is negotiating with investors asking for new rounds of funding of up to $1 billion.  With its prior financing earlier this year, the company’s valuation is in-line. The crypto exchange was reportedly been on an acquisition spree during the ‘crypto meltdown’. The Bahamian cryptocurrency exchange FTX, led by its CEO Sam Bankman-Fried, was in discussion with investors to reach new funding of up to $1 billion. According to an unnamed informant, the crypto exchange aims to keep its valuation at around $32 billion. However, the people present at the discussion said the talks are still preliminary, and conditions are

Court Document Reveals Three Arrows Capital Owes Whopping $3.5B
Court Document Reveals Three Arrows Capital Owes Whopping $3.5B

A new court document revealed who Three Arrows Capital owes to. Digital Currency Group, parent company of Genesis, was owed $1.2B. Document also shows 3AC owes co-founder Zhu Su and wife of co-founder Kyle Davies. Three Arrows Capital (3AC) unveiled in a new court filing that the crypto hedge fund owes $3.5 billion to 27 different companies.  Earlier this month, 3AC filed for Chapter 15 bankruptcy that enables cooperation between international and US court systems. The filing aims to protect the debtor’s assets amidst trading suspension from several crypto lending firms. According to the court document, 3AC owes to companies