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FTX US receives USD 400 mln in Series A funding

Thursday 27 January 2022 10:55 CET | News

Cryptocurrency exchange platform FTX US has announced the closing of a USD 400 Million Series A round valuing the Company at USD 8 Billion.

This funding round is the first for FTX US and saw participation from Paradigm, Temasek, NEA, Multicoin Capital, Tribe Capital, Ontario Teachers' Pension Plan Board, SoftBank Vision Fund 2, Greenoaks Capital, Steadview Capital, and Lightspeed Venture Partners, amongst others.

The funds will allow FTX US to continue its growth, expand its US presence, and establish itself as a crypto exchange in the US, while maintaining strict compliance with existing regulations and supporting emerging regulations of crypto spot and derivatives markets.

The funds will allow the Company to grow its user base, bolster its derivatives efforts, and launch new business lines. FTX US also plans to use the Series A round to make strategic investments and acquisitions in key verticals and expand its network of partnerships.

Source: Link


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Keywords: cryptocurrency exchange, crypto, funding, trading platform
Categories: DeFi & Crypto & Web3
Companies: FTX
Countries: United States
This article is part of category

DeFi & Crypto & Web3

FTX

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