FTX raises $900 million at an $18 billion valuation

The crypto-derivatives exchange FTX raised a record $900 million for the industry in a Series B funding round, according to a press release.

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Sixty investors participated, including SoftBank, Sequoia Capital, Paradigm, Coinbase Ventures, Ribbit Capital, Sino Global Capital, Multicoin, Circle, Lightspeed, Third Point, and the billionaire investors Alan Howard and Paul Tudor Jones. FTX’s valuation was $18 billion.

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The funds will be used to broaden its global footprint, improve products, pursue strategic investments, and to develop White Label software and offer it to traditional financial firms looking to enter the crypto industry.

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“Whether it’s a neobank seeking to offer crypto trading, or a payments portal, everything we have is available through the API,” remarked the head of the company, Sam Bankman-Fried.

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Earlier, FTX announced raising up to $1 billion of additional financing.

Earlier, Bankman-Fried did not rule out acquisitions in the future by Goldman Sachs or CME Group, as soon as it can beat Coinbase and Binance.

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