Sam Bankman-Freed’s FTX exchange has raised $ 900 million in investments. This is the largest direct funding of cryptocurrency exchanges in history.
FTX Trading Ltd, owner and operator of the FTX.COM cryptocurrency exchange, has announced the completion of a $ 900 million Series B fundraising campaign.
More than 60 investors took part in the round, among them: Paradigm, Sequoia Capital, Thoma Bravo, SoftBank, Ribbit Capital, Insight Partners, Third Point, Lightspeed Venture Partners, Altimeter, BOND, NEA, Coinbase Ventures, Willoughby Capital, 40North, Senator, Circle and many others.
Sam Bankman-Fried, CEO of FTX, commented on the round:
“I am shocked by the support we have received. This is our first major fundraiser, but thanks to it we have acquired extremely valuable partners. I’m thrilled to work with them to make FTX a better company. ”
Based on Series B results, the current capitalization of FTX Trading Ltd. reached an amount of $ 18 billion, which represents the largest growth in the history of cryptocurrency exchanges.
FTX has experienced tremendous growth since its launch in May 2019. This year, the exchange’s revenue has increased more than 10 times, and since the close of the Series A funding round, in mid-2020, it has increased 75 times.