FTX Raises $400 Million in Series C Fundraise, Firm Reaches $32 Billion Valuation

Following the company’s subsidiary FTX US raising funds successful its archetypal Series A financing round, genitor institution FTX Trading Ltd. has announced it has secured $400 cardinal successful a Series C fundraise. The crypto company’s latest financing circular brings the firm’s post-money valuation to $32 billion.

FTX Series C Fundraise Brings Firm’s Valuation to $32 Billion

FTX Trading Ltd. has raised $400 cardinal successful a Series C fundraising circular according to an announcement connected Monday. The fundraise follows the firm’s Series B astatine the extremity of July past twelvemonth and Series B-1 toward the extremity of October 2021. The latest financing saw information from Temasek, Paradigm, Ontario Teachers’ Pension Plan Board, Steadview Capital, Tiger Global, Insight Partners, NEA, IVP, Softbank Vision Fund 2, and Lightspeed Venture Partners.

“Our Series C financing circular represents a milestone accomplishment for FTX, arsenic we raised adjacent to $2 cardinal successful six months. This circular volition enactment our continued ngo of delivering innovative products and services to the marketplace arsenic good arsenic expanding our planetary scope with further licenses astir the world,” FTX CEO Sam Bankman-Fried said successful a connection sent to Bitcoin.com News. Bankman-Fried added:

“With the ongoing enactment from our dedicated investors and userbase, FTX volition look to proceed interacting with regulators to facilitate entree to integer assets successful a harmless and compliant manner. We look guardant to moving alongside our investors to execute our ngo and proceed our tremendous maturation passim 2022 and beyond.”

The superior fundraise brings the crypto company’s valuation to $32 cardinal which makes it 1 of the largest integer plus firms successful the satellite successful presumption of capitalization. Additionally, the company’s speech based successful the United States, FTX US, raised $400 cardinal successful its archetypal superior fundraise.

FTX says the institution has seen immense maturation since its Series B-1 fundraise and notes that the company’s “user basal increasing 60% and its mean regular trading measurement accrued 40%, reaching astir $14 cardinal successful regular volume.” In October, the firm’s crypto trading measurement propelled the speech to becoming the third-largest cryptocurrency speech worldwide.

What bash you deliberation astir FTX Trading Ltd. raising $400 cardinal successful a Series C fundraise? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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