FTX Trading Ltd., an Antigua and Barbuda-based owner and operator of cryptocurrency exchange FTX.COM, closed a $900m Series B funding, which valued the company at $18 billion.
Backers included Paradigm, Sequoia Capital, Thoma Bravo, SoftBank, Ribbit Capital, Insight Partners, Third Point, Lightspeed Venture Partners, Altimeter, BOND, NEA, Coinbase Ventures, Willoughby Capital, 40North, Senator Investment Group, Sino Global Capital, Multicoin, the Paul Tudor Jones family, Izzy Englander, Alan Howard, VanEck, Hudson River Trading, and Circle.
The company intends to use the funds to to further enhance its offerings and make strategic investments designed to grow the business, expand the network of partnerships it has for its FTX Pay, FTX Liquidity program & FTX NFT business lines as it looks to expand its presence and drive further growth.
Led by Sam Bankman-Fried, CEO, FTX is a cryptocurrency exchange for traders, which offers innovative products, including derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk.
Since its launch in May 2019, FTX has experienced growth with over 1 million users and averaging over $10B of daily trading volume.
FinSMEs
21/07/2021