FTX reaches US$32B valuation after closing $400M series C
The owner and operator of cryptocurrency exchange FTX.COM announced Monday it closed US$400 million in a Series C fundraise that now values the company at US$32 billion.
Fast facts
- Investors participating in this round included Temasek, SoftBank Vision Fund 2 and Tiger Global, among others.
- The company said all of the investors have participated in earlier rounds, demonstrating a commitment to FTX’s vision.
- All of the Series C FTX.COM investors simultaneously participated in the Series A round of Chicago-based cryptocurrency exchange FTX.US, which valued that company at US$8 billion and was announced on Jan. 26.
- “Our Series C financing round represents a milestone achievement for FTX, as we raised close to $2 billion in six months,” said FTX CEO Sam Bankman-Fried in a statement. The money will support continued global expansion as well as “interacting with regulators to facilitate access to digital assets in a safe and compliant manner.”
- The Series C round is the third fundraise to occur since July 2021 for FTX.COM. The company has raised a total of US$1.8 billion and its valuation has increased by over 75% in that period.
- Since its Series B-1 round in Oct. 2021, FTX.COM reported that its user base has grown 60% and its average daily trading volume has increased 40%, reaching approximately $14 billion in daily volume.
