FTX completes $400 million Series C financing, valued at $32 billion, SBF: $2 billion raised in six months, a significant milestone for the industry!

FTX announced today (31st) that it has completed a $400 million Series C funding round, with the company's valuation increasing from the previous B-1 round of $25 billion to $32 billion.

FTX announced today (31st) that it has completed a $400 million Series C funding round, with the company's valuation rising from $25 billion in the previous B-1 round to $32 billion.

Institutional investors participating in this round include Singapore's most mysterious investment company Temasek Holdings, SoftBank Vision Fund, Ontario Teachers' Pension Plan, Steadview Capital, Lightspeed Venture Partners, Tiger Global, Insight Partners, and other traditional venture capital firms.

FTX officials revealed that investors participating in the FTX Series C round also took part in the previous funding round of FTX.US. FTX.US is the sister company of FTX (FTX.com) and aims to provide a compliant cryptocurrency trading platform for U.S. users. FTX.US completed a Series A funding round on the 26th of this month, also raising $400 million, with a valuation reaching $8 billion.

This round marks the third round of funding for FTX in the past six months, with a total funding amount of $2 billion. FTX's valuation has also increased by 75% in these three rounds of funding, from $18 billion in the Series B round to $32 billion. It is worth mentioning that many investors from the past two rounds have also participated in this round, indicating that investors have recognized FTX's explosive growth over the past year and have great confidence in FTX's future.

FTX founder Sam Bankman-Fried views the Series C round as a significant milestone for FTX, especially as the company has raised nearly $2 billion in the past six months, showing that investors support our continued global expansion.

SBF stated, "Completing the Series C funding is an important milestone for FTX as it means that we have raised nearly $2 billion in the past six months. This round of funding will not only continue to support our vision of providing innovative cryptocurrency products and services to the market, but also support our continued expansion globally, obtaining regulatory approvals, and expanding our influence."

FTX officials stated that since the B-1 round in October last year, FTX has shown significant growth, with a 60% increase in exchange users and a 40% increase in average daily trading volume, reaching a daily trading volume of $14 billion. At the same time, FTX has become the third-largest cryptocurrency exchange globally, and excluding users from China, FTX is one of the largest exchanges in the world today. In order to continue expanding its influence, FTX recently launched FTX Ventures, with a fund size of $2 billion, focusing on investing in the Web3 sector, including community platforms, gaming, fintech, healthcare, and software engineering.

SBF concluded, "With the support of our investors and users, FTX will continue to seek cooperation with regulatory agencies to allow users to trade or hold digital assets in a secure and compliant manner. We look forward to working together with investors to achieve our goals and hope to continue our journey in 2022 and beyond, achieving significant growth."