FTX Closes $400m Series C Funding Round Towards Global Expansion 

Cryptocurrency exchange FTX

Cryptocurrency exchange FTX has raised $400 million in Series C funding, reaching a $32 billion valuation to acquire more licenses and expand.  

The company’s CEO, Sam Bankman-Fried, plans to reach more acquisitions and form partnerships across multiple countries.

The funding round brought together the same group of financiers who took part in the $400 million series A round for FTX US. Paradigm, Multicoin Capital, Softbank are some of the firms involved.

Sam wants an open engagement with the regulators to enable users to access digital assets in the safest way possible. The executive said FTX was looking to collaborate with investors to maintain an upward 2022 growth projection.

The cryptocurrency exchange is now at par with Deutsche Boerse and ahead of Nasdaq and Twitter in valuation.

The announcement follows a series C round where FTX raised $420 million last year, bringing its valuation to $25 billion.

Source: Coindesk

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