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FTX May Buy Bithumb and Raise Funds Again – Coins.fr

According to Bloomberg, FTX is in talks with South Korean crypto exchange Bithumb as part of a takeover. The SBF platform is also reported to be raising funds.

Billionaire and FTX CEO Sam Bankman Fried has been “in months” in talks with South Korean rival Bithumb about an acquisition, Bloomberg reported, citing people familiar with the matter.

In the spring, FTX announced that it would focus on investments and acquisitions to accelerate its development and offer more products. Earlier this year, SBF acquired the Liquid and Bitvo cryptocurrency exchanges. She also recently backed several crypto players in the turmoil like BlockFi and said she’s ready to help other platforms maintain credibility.

“At this stage, we cannot confirm anything,” a spokesman for the South Korean exchange said of a potential takeover by FTX.

Bithumb, founded in 2014 in Seoul, is a pioneering and well-known cryptocurrency exchange. However, in recent years, the company has struggled with difficulties and, perhaps, with a collapse in prices in the crypto market, it will now be on the verge of failure.

Bloomberg also reported earlier this week that FTX and its US subsidiary FTX.US are once again looking for funds to raise funds. The 30-year-old crypto mogul’s Bahamas-based firm has already raised over $800 million in the past 12 months. The latest funding round in January raised its valuation to $32 billion.

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