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Crypto exchange FTX valued at $25 billion in $420 million funding round
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cnbc.comIn this article
Cryptocurrency exchange FTX says it has raised $420 million in a new round of funding, valuing the company at $25 billion.
The Bahamas-based firm said Thursday it raised the fresh cash from a total of 69 investors including the Ontario Teachers' Pension Plan Board, Singapore's Temasek, BlackRock and Sequoia.
Specifically, the company said it attracted a total of $420,690,000 in its latest round, with the «420» and «69» being a nod to meme culture.
The investment is a top-up to FTX's series B financing round in July, in which it raised $900 million at an $18 billion valuation.
FTX is one of the world's largest digital currency exchanges, competing with the likes of Coinbase, Binance and Kraken. It specializes in derivatives
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