FTX raises $400 million at a $32 billion valuation

Crypto exchange FTX announced a $400 million Series C financing round. The company’s valuation reached $32 billion.

According to the press release, investors backing the exchange’s U.S. unit participated in the round — on January 26 it raised $400 million at a valuation of $8 billion. They include Temasek, Paradigm, SoftBank Vision Fund 2, Tiger Global, and others.

“FTX will continue to engage with regulators to facilitate access to digital assets in a safe and compliant manner,” said founder Sam Bankman-Fried.

Representatives of the exchange noted that since October 2021 the user base has grown by 60%, and the average daily trading volume has risen by 40% (to around $14 billion).

For 2021, the daily number of trades executed on the platform, including derivatives, stood at 13.8 billion. The spot trading volume rose by 2,400%, reaching $719 billion.

Earlier the exchange raised $900 million in a Series B funding round, the size of which was subsequently increased to $1 billion.

In October FTX closed a Series B-1 funding round for $420.69 million, after which its valuation reached $25 billion.

As reported in January 2022, the company announced the launch of a venture fund of $2 billion for investments in startups at various stages of development and in segments of the crypto market.

Subscribe to ForkLog news on VK!