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

Summary:
Days after its US branch raised 0 million, so has done the global exchange FTX. Thus, its total valuation grew to billion. CryptoPotato reported last week the funding round in which FTX US raised 0 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 0.69 million, the company’s total valuation has grown to 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

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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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