In Brief:
- FTX Trading Ltd. closes $420M in series B-1 funding round.
- There were 69 investors in the funding round includingICONIQ Growth, IVP, Ribbit Capital and more.
- The company user base grew 48% and its average trade volume has increased 75% since July.
FTX Trading Ltd. a leading global cryptocurrency exchange closes $420,690,000 in series B-1 funding round.
According to the announcement this funding round increases the valuation of the company to $25 billion.
There were 69 investors in this funding round. It includes Ontario Teachers Pension Plan Board, Sea Capital, ICONIQ Growth, Tiger Global, Temasek, Sequoia Capital, IVP, Ribbit Capital, and many more. The funds will be utilized for expansion, operation improvements and further establish itself as a marketplace leader.
In July FTX closed $900M, the highest deals of Series B funding rounds. It includes 60 participants like Coinbase Ventures, Temasek, Softbank, and much more. The current financial round by FTX comes after 3 months. The company user base grew 48% and its average trade volume increased 75%, now average $14B per day in daily volume.
In Sept, the crypto exchange FTX moved its headquarters from HongKong to the Bahamas. The exchange has successfully been registered by the SEC of the Bahamas as a digital asset business.
Sam Bankman-Fried, CEO of FTX, commented on the news, the company highly focused on “generating FTX as a trustworthy and innovative exchange by regularly engaging regulators around the world.”
“The additional capital and group of investors will let us provide the experience our users deserve and address other adjacent market opportunities including equities, prediction markets, NFTs and videogame partnerships,” said Ramnik Arora, Head of Product at FTX.
