Crypto exchange FTX draws US$900 million from new investment round
by: Dynasty GI2021-07-22
One of the world’s most high-profile crypto exchanges, FTX, has concluded its latest funding round, attracting US$900 million from a number of investors.
The new round, believed to be a record for the sector, involved around 60 investors, including SoftBank and Sequoia Capital.
Recently, SoftBank also committed US$200 million to Mercado Bitcoin, Brazil’s largest crypto exchange.
"“Both new and traditional investors are increasingly seeing the potential growth in the crypto world and getting involved, which can only be a good thing”, commented Dynasty Global Investments AG’s co-founder, Fabio Asdurian."
FTX is also known for its high visibility strategy, including aggressive marketing activities such as sponsorship deals involving the US Major League Baseball and e-sports. According to crypto specialist analysts at The Block, FTX has so far clocked in US$19.3 billion worth of exchange trading volumes. Following the funding round, FTX stated it is now valued at US$18 billion.