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Crypto Market-maker FTX Nixes Planned Down Venture Raise, Embarks On Hiring Push

From blockworks.co

Behind closed doors, the upper-echelon of executives at cryptocurrency exchange FTX in recent weeks plotted to raise yet another venture round at a multi-billion— for the first time, at a lower valuation than previous rounds, according to three sources familiar with the matter. The company, meanwhile, has been planning a “quite sizable” hiring push, according to two sources, in an effort to install merger-and-acquisition specialists as the firm works to integrate an unprecedented spending spree instigated by founder Sam Bankman-Fried. One source pegged the increase at 1,000 employees, up from just 250 to 300 ... (full story)

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