[Breaking] FTX Crypto Exchange Closes $900M Series B Round

FTX.COM, a cryptocurrency exchange today announces that it has closed a $900 million Series B fundraise. The company was valued at $18 billion in the fundraising round.

Over 60 investors participated in the $900M Series B round including Paradigm, Sequoia Capital, Thoma Bravo, SoftBank, Ribbit Capital, Insight Partners, Third Point, Lightspeed Venture Partners, Altimeter, BOND, NEA, Coinbase Ventures, Willoughby Capital, 40North, Senator Investment Group, Sino Global Capital, Multicoin, the Paul Tudor Jones family, Izzy Englander, Alan Howard, VanEck, Hudson River Trading, and Circle.

Sam Bankman-Fried, CEO of FTX, commented on today’s news: “I’m incredibly humbled by the support we’ve gotten. It’s our first large fundraise, but through it we’ve formed a hugely valuable set of partners.”

“I’m excited to work with them to make FTX the best company it can be. We started out as a new derivatives exchange two years ago, and this round will help us continue to build out a bigger and broader vision for what FTX could become.”

FTX crypto exchange was launched in May 2019. The valuation of the company has grown 75x since its Series A funding round closed in mid-2020. FTX is one of the largest crypto exchanges with over 1 million users and averaging over $10B of the daily trading volume.