One of the biggest crypto exchanges, FTX, under the leadership of Sam Bankman-Fried, managed to raise $900M at an estimate of $18B.
The company began its way in 2019 and since that moment has managed to stand on a par with such giants of the crypto market as Binance, Huobi, and Coinbase, with the goal of one day IPO following the example of the latter.
More than 60 major industry investors participated in the Series B fundraise. Among them are SoftBank, Paradigm, Sequoia Capital, VanEck, billionaire Alan Howard, and Coinbase Ventures. At the same time, the fundraise itself became the most extensive in FTX's history.
The head of the trading platform stressed that almost the entire amount of funds received by them will be directed to mergers and acquisitions. He also stated that the team went through a lot of work to get this result. As a result, they now have the potential to build trusting relationships with various business partners “outside the ecosystem”. Earlier, according to him, the representatives of the exchange simply did not have such powers.
The Hong Kong-based exchange recently expanded into the United States and intends to focus on cooperation with regulatory and licensing agencies. This was announced by Bankman-Fried shortly after announcing that the exchange is ready to consider acquiring such large institutional structures as Goldman Sachs or CME Group when it is “strong enough” to do so.
FTX has grown significantly in the media field over the past six months and has made significant gains in a bull rally with a sponsorship deal with the NBA Miami Heat and a partnership with MLB.
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