FTX closes another $400M round at $32B valuation

Popular crypto derivatives exchange FTX has secured another $400 million in its Series C round to reach a $32 billion valuation. The fundraise just came days after its US subsidiary FTX.US secured $400 million from its first external funding round.

As per the announcement made today, participants in the round included Temasek, Paradigm, Ontario Teachers’ Pension Plan Board, NEA, IVP, SoftBank Vision Fund 2, Lightspeed Venture Partners, Steadview Capital, Tiger Global, Insight Partners, and others.

“This round will support our continued mission of delivering innovative products and services to the marketplace as well as expanding our global reach with additional licenses around the world,” FTX founder and CEO Sam Bankman-Fried said in a statement. He added:

“With the ongoing support from our dedicated investors and userbase, FTX will look to continue interacting with regulators to facilitate access to digital assets in a safe and compliant manner. We look forward to working alongside our investors to achieve our mission and continue our tremendous growth throughout 2022 and beyond.”

The exchange grew by more than 75% in just half a year after conducting at least three funding rounds during the period. FTX secured $1 billion in July 2021 and $420 million just three months after. The latest round has brought its total funding raised to a substantial $1.8 billion.

The post FTX closes another $400M round at $32B valuation appeared first on Our Bitcoin News.