Valuation of digital asset platform FTX US raised to $8 billion

This figure was reached after raising $400 million in a Series A funding round

27.01.2022 - 07:45

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What’s new? FTX US, a cryptocurrency platform, has reported the successful completion of its Series A funding round, in which it raised $400 million from large funds. The valuation of FTX US rose to $8 billion following the round.

The full version of the FTX US press release

Who participated? The Series A round involved companies and large investment funds such as NEA, Paradigm, Lightspeed Venture Partners, Temasek, Steadview Capital, Softbank Vision Fund 2, Multicoin Capital, and Greenoaks Capital.

What will the funds be used for? The US division of FTX stated that it plans to raise the total investment amount to $1 billion. Most of the funds will be used to strengthen the platform’s position in the US market and bring its activities into full compliance with regulatory requirements.

Other announced plans include the launch of new products, including futures and options for retail cryptocurrency traders.

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