FTX Raises $400 Million in Series C Fundraise, Firm Reaches $32 Billion Valuation

FTX Raises $400 Million in Series C Fundraise, Firm Reaches $32 Billion Valuation

Following the corporate’s subsidiary FTX US elevating funds in its first Series A financing spherical, mother or father firm FTX Trading Ltd. has introduced it has secured $400 million in a Series C fundraise. The crypto firm’s newest financing spherical brings the agency’s post-money valuation to $32 billion.

FTX Series C Fundraise Brings Firm’s Valuation to $32 Billion

FTX Trading Ltd. has raised $400 million in a Series C fundraising spherical in response to an announcement on Monday. The fundraise follows the agency’s Series B on the finish of July final yr and Series B-1 towards the tip of October 2021. The newest financing noticed participation from Temasek, Paradigm, Ontario Teachers’ Pension Plan Board, Steadview Capital, Tiger Global, Insight Partners, NEA, IVP, Softbank Vision Fund 2, and Lightspeed Venture Partners.

“Our Series C financing spherical represents a milestone achievement for FTX, as we raised near $2 billion in six months. This spherical will assist our continued mission of delivering progressive services to {the marketplace} in addition to increasing our international attain with further licenses around the globe,” FTX CEO Sam Bankman-Fried mentioned in a press release despatched to Bitcoin.com News. Bankman-Fried added:

“With the continued assist from our devoted buyers and userbase, FTX will look to proceed interacting with regulators to facilitate entry to digital property in a protected and compliant method. We stay up for working alongside our buyers to attain our mission and proceed our great development all through 2022 and past.”

The capital fundraise brings the crypto firm’s valuation to $32 billion which makes it one of many largest digital asset corporations on the earth by way of capitalization. Additionally, the corporate’s alternate primarily based within the United States, FTX US, raised $400 million in its first capital fundraise.

FTX says the corporate has seen immense development since its Series B-1 fundraise and notes that the corporate’s “person base rising 60% and its common every day buying and selling quantity elevated 40%, reaching roughly $14 billion in every day quantity.” In October, the agency’s crypto buying and selling quantity propelled the alternate to changing into the third-largest cryptocurrency alternate worldwide.

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