Wednesday, March 22

FTX Valuation Hits $32 Billion Following a $400 Million Funding Round: Report

Days after its US branch raised $400 million, so has done the global exchange FTX. Thus, its total valuation grew to $32 billion.

  • CryptoPotato reported last week the funding round in which FTX US raised $400 million from different investors such as Japan’s SoftBank Group Corp and Singapore’s Temasek Holdings.
  • Less than a week later, CNBC reported that the new funding round for the global digital asset exchange FTX saw participation from some of the same investors.
  • With this third fundraise in nine months, the previous one being worth $420.69 million, the company’s total valuation has grown to $32 billion.
  • FTX’s CEO, Sam Bankman-Fried, commented that the firm is exploring how to go public if necessary, but so far, no such plans have been made official.
  • Instead, he noted that this exchange is more focused on expanding in other countries by acquiring new licenses.
  • Speaking about the current conditions in the market, with bitcoin wiping off roughly 50% of its value in a few months, SBF said he doesn’t believe that there will be a crypto winter anytime soon.
  • “There have been changes in expectations of interest rates, and that’s been moving crypto markets. But it’s been moving markets more generally as well.” – he added.


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