FTX is Planning to Spend Billions on Acquisitions, According to Bankman-Fried

In an interview with Bloomberg, Chief Executive Officer Sam Bankman-Fried said that FTX is willing to invest billions of dollars in interests in other companies. Bankman-Fried says FTX prepared to spend billions on acquisitions: Bloomberg – The Block Crypto #crypto https://t.co/bBsasNnNnE — Coin Alert (@coin_alertt) May 28, 2022 The company’s recent fundraising of more than $2 billion by the company and its US entity may be utilized for investments to increase its variety of services to its consumers, according to the wealthy CEO, who is also a co-founder of FTX. He stated, “FTX is a profitable corporation. You can see how much money we’ve raised in the last year or two – it’s a couple of billion dollars. That might give you an idea of where we are in terms of cash, which was explicitly examined from the perspective of a potential acquisition.” According to Bloomberg, FTX raised $400 million in January at a $32 billion valuation, raising the previous half-year to roughly $2 billion. Its US business also raised $400 million. According to sources familiar with the situation, FTX is closing a fresh investment round that could bring in between $400 million and $1 billion.The post FTX is Planning to Spend Billions on Acquisitions, According to Bankman-Fried appeared first on Cryptoknowmics-Crypto News and Media Platform.