Read full article at Coingape.

FTX crypto exchange has closed the largest funding round in crypto history with a $900 million fundraise in its series B funding round. The funding round saw participation from 60 investors with lead funding coming from the likes of Sequoia Capital, Third Point, Lightspeed Venture Partners, Coinbase Ventures, Softbank, and many others.

Sam Bankman-Fried, the 29-year-old founder and CEO of the exchange commented on their record fundraise and said,

“The primary goal of the raise was to [find] strategic allies who can help FTX grow its brand,” but the capital itself will be primarily used for acquisitions, any of those are businesses where we think we have a lot of value to add, implementing the tools that we’ve built, and frankly, in some cases, us implementing what they’ve built,”

Among the notable names missing from the list include Binance which was among the core investors during the exchange’s fundraise.

 

The cryptocurrency has been on a song recently with an array of partnerships and sponsorship deals and the recent fundraise which is nearly double in value than the next one. Primarily known for its derivative trading services, the exchange has swiftly managed to become the third-largest spot market as well. The platform boasts of one million registered customers with usage by retail and institutional investors.

The post Breaking: FTX Closes Largest Funding Round in Crypto History at $18B Valuation appeared first on Coingape.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency

Categories:

Tags:

Comments are closed

Translate

Our Other Projects

EdgyBranding.com - Premium Domain Names.

Notezi.com - Social Network

ParisArtwork.org - Mid-century Paris NFTs, tokenized on the WAX blockchain.

NewYorkArtwork.org - Mid-century New York NFTs, tokenized on the Ethereum blockchain and offered on Rarible.

ClassicAutomobile.org - Classic Automobile News.