FTX Nixes Potential Down Venture Raise, Embarks On Hiring Push
— Acquisition specialists, Amount, Company issued, Blockworks reported, Relatively lean team, Building —, Long run ”, Longrunning preferred business model, Many cases, “ discarded — 1 min read
Executives at cryptocurrency exchange FTX in recent weeks broached the prospect of yet another multibillion-dollar venture round — for the first time, at a lower valuation than previous rounds. The firm recorded one of the largest-ever crypto venture raises in January, drumming up some $400 million in a Series C round that valued the market-maker at $32 billion. The company also viewed its acquisitions to come, including beleaguered crypto lender BlockFi, as potential sources of revenue and new staffers, to boot. The move comes as founder Sam Bankman-Fried has set in motion an unprecedented buying spree of crypto companies.BlockFi, which FTX is narrowing in on acquiring, Blockworks reported, recently attempted to raise Source