FTX Raises $400M In Series C Funding, Increasing The Firm’s valuation To $32B

Appetizers

  • In a Series C investment round, FTX raised $400 million, giving the cryptocurrency exchange a massive $32 billion valuation.
  • That’s more than the Nasdaq exchange or Twitter, and nearly the same as Germany’s Deutsche Boerse.
  • The financial investment will assist the exchange in funding its worldwide expansion and obtaining more market licences.

In a Series C investment round, FTX raised $400 million, giving the cryptocurrency exchange a massive $32 billion valuation. That’s more than the Nasdaq exchange or Twitter, and nearly the same as Germany’s Deutsche Boerse.

The financial investment will assist the exchange in funding its worldwide expansion and obtaining more market licences. FTX CEO Sam Bankman-Fried recently said that the company is considering acquisitions and collaborations to expand its user base and enter other regions.

“FTX will aim to continue collaborating with regulators to ensure safe and compliant access to digital assets,” Bankman-Fried said today in a statement. “We look forward to collaborating with our investors to realise our purpose and continue our phenomenal growth well into the future,” said the company.

FTX Will Utilise The Funds In Enhancing Matching Engines

The $400 million Series C round into FTX US, which gave the American affiliate a $8 billion value last week, was raised at the same time and from the same set of investors. Among the companies who took part were Paradigm, Temasek, Multicoin Capital, and SoftBank.

SAM Told news director Frank Chaparro that all the money will be use to expand the capacity of its exchange’s matching engine. Whilst building out its fiat on-ramps to compete with international exchange venues. It also plans to announce a batch of new licenses to operate more globally in the coming months. 

Further the director Tweets name of some companies which FTX have over took in terms of net worth.

The Series C round of fundraising comes little over three months after FTX received $420 million. The Fund provided the exchange a valuation of $25 billion.

The funds raised, however, fell short of the $1.5 billion sum that Bankman-Fried was said to be aiming for last year.

For more interesting and informative Twitter talks and news, stay connected.

Please follow and like us:

source

  • American_Airlines_Arena,_Miami,_FL,_jjron_29.03.2012: Taken by John O'Neill

Related Articles

Facebook
Twitter
Telegram