The privately held company has been spending heavily during the “crypto winter.”
FTX is in talks to raise up to $1 billion at a valuation of around $32 billion, in line with previous rounds.
FTX Trading Ltd's latest funding round raised $400 million in January, boosting the cryptocurrency exchange's valuation to around $32 billion.
Existing investors include Singapore’s Temasek, SoftBank’s Vision Fund 2 and Tiger Global Management.
FTX revenues increased over 1,000% to $1.02 billion in 2021 from $89 million last year.
In July, FTX signed a deal that would allow it to acquire money lender BlockFi, and the company was also reportedly in talks to acquire South Korea's Bithumb.
FTX has not suffered from stock volatility like the exchange Coinbase, which has lost more than three-quarters of its value this year.