FTX Reaches $32 Billion Valuation After Raising $400M

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Crypto exchange FTX has just announced that it has completed a Series C funding round in which it has raised $400 million. According to the company’s reports, its valuation has now reached $32 billion.

The round has seen the participation from Temasek, Paradigm, Ontario Teachers’ Pension Plan Board, NEA, IVP, SoftBank Vision Fund 2, Lightspeed Venture Partners, Steadview Capital, Tiger Global, and Insight Partners, among others. The company founder Sam Bankman-Fried said:

“FTX will continue to engage with regulators to facilitate access to digital assets in a secure and compliant manner.”

The representatives of the exchange have said that since October 2021, the platform’s user base has increased by 60%, and the average daily trading volume has risen by 40% to around $14 billion.

At the end of 2021, the daily number of transactions conducted on the platform, including transactions with derivatives, amounted to 13.8 billion. Spot trading volume increased by 2,400%, reaching $719 billion.