FTX Exchange attracted $420 million in the next round of financing – Bits Media

Company owner Sam Bankman-Fried (Sam Bankman-Fried) considers, that the bulk of investors invested money in the trading platform amid the growth of the cryptocurrency market.

Cryptocurrency platform FTX
closed a new round of financing B-1. Participated in financing 69 investors. They were arranged by BlackRock and Tiger Global, Ribbit Capital, and billionaires Alan Howard (Alan Howard) and Israel Englander (Israel Englander), who participated in the previous funding round.

The exchange attracted investments worth $420.69 million. As a result, the company's market capitalization increased to $25 billion. This is on 39% more, than after the previous round B financing, when the company attracted a record for the crypto industry $900 million. The previous funding round included Asia's largest state-owned investment company, Temasek, headquartered in Singapore.. According to company statistics, During this period, the number of users on the site increased by 48%, and trading volume increased by 75%.

IN 2021 year, the exchange invested serious money in sports advertising, contracting to have its logo appear on Major League Baseball umpires' uniforms. According to FTX CEO Sam Bankman-Fried, which remains the majority shareholder of the FTX exchange, promote the company brand – this is just one aspect of the trading platform development strategy.

The head of FTX said, that the company plans to use venture capital and profits to globally scale exchange services among users and enter into partnership agreements.

“This year we invested almost half a billion dollars in the development of the platform, and we have to invest even more in development".

Recently the American branch of the exchange, FTX.US, launched an NFT trading platform. The platform supports tokens on the Solana blockchain, and later support for tokens on Ethereum will be added. At the same time, the company, to avoid problems with regulators, will not host NFTs, offering royalties. The FTX trading platform ranked third in terms of transaction volume in 2021 year.