Could FTX International raise $6bn-$10bn from a convertible preferred stock?

The new investment materials show that he was seeking to raise $6bn-$10bn including from a convertible preferred stock paying a 10 per cent dividend that could later be converted into common equity in FTX international at a valuation of between $12bn-$15bn. “This is just a lower bound on the terms investors can get,” the materials add.

How has FTX changed over the years?

Since its launch in May 2019, FTX has experienced tremendous growth. The company's revenues have increased over tenfold this year and 75x since its Series A funding round closed in mid 2020. With over 1 million users and averaging over $10B of daily trading volume, FTX has grown into one of the world's leading crypto exchanges.

What is FTX & how does it work?

With over 1 million users and averaging over $10B of daily trading volume, FTX has grown into one of the world's leading crypto exchanges. The platform serves the entire chain of cryptocurrency trading participants from retail and crypto-native investors, to sophisticated day traders, family offices, and experienced institutional traders.