FTX Raises $400M At $32B Valuation
Crypto Briefing | Feb 01, 2022 01:14AM ET
FTX says it will allocate the capital mainly to mergers and acquisitions. FTX has achieved a valuation of $32 billion alongside its latest capital raise of $400 million, per an announcement on Monday. Cryptocurrency exchange FTX has closed a Series C funding round.
The exchange has raised $400 million in a Series C funding round from investors including Temasek, Paradigm, Lightspeed Venture Partners, SoftBank Vision Fund 2 and others.
Led by founder and CEO Sam Bankman-Fried, FTX is one of the leading centralized crypto exchanges in the world with over five million active users. It is headquartered in the Bahamas.
A January 2022 $420 million at a $25 billion valuation.
The exchange has stated it would use the freshly-raised capital towards mergers and acquisitions. In the past, the exchange has acquired crypto portfolio tracker application $2 billion venture capital fund in partnership with Lightspeed called FTX Ventures.
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