FTX, one of the largest cryptocurrency exchanges in the world, said in a statement; announced that it has raised $420 million in new investments in its last funding round, increasing the company’s market value to $25 billion.
The company’s latest funding round was attended by 69 contributors, including investors from Sequoia Capital, BlackRock, Ribbit Capital and Tiger Global.
The exchange raised $900 million in its funding round in July, the largest investment in crypto history.
Sam Bankman-Fried, co-founder and CEO of FTX, which relocated its headquarters from Hong-kong to the Bahamas in September, said in a phone call from the Bahamas that the latest investments are “a continuation of the company’s long-standing growth trend.”
“Today, we are focused on establishing FTX as a reliable and innovative exchange by engaging with regulators around the world and constantly seeking opportunities to improve our offerings for digital asset investors.
For this round, we took advantage of these steps and were able to partner with investors who prioritize positioning FTX as the world’s most transparent and compliant cryptocurrency exchange.
Stating that some of the revenues will be used for marketing purposes, the CEO added that the majority of them can be used in mergers and acquisitions to achieve the goal of expanding to more countries, adding that the company is actively negotiating.
Although the FTX exchange, which was launched about 2 years ago, is new in the crypto market, it has become one of the important names in the market with its rapid growth.
The FTX exchange continues to attract attention with its partnerships and initiatives. FTX, which has recently created its own NFT market, signed a sponsorship agreement for the stadium, now called “FTX Arena”, where the matches of the NBA teams Miami Heat are played.
Rising up to $75 after the news was heard, FTT is trading at $63.7 as of our news hour.