FTX a leading global cryptocurrency exchange, today announced the closing of a $420,690,000 Series B-1 fundraise, increasing the valuation of the Company to $25 billion. FTX has grown significantly since its initial $1 Billion Series B round back in July 2021, with the Company’s user base growing 48% and its average trade volume increasing 75%, now averaging $14B per day in daily volume.
Sam Bankman-Fried, CEO of FTX, commented on the news, “We founded FTX two years ago with the idea of creating a better financial marketplace. Today we are focused on establishing FTX as a trustworthy and innovative exchange by regularly engaging with regulators around the world, and constantly seeking opportunities to enhance our offerings for digital asset investors.
FTX has created a wave of successful investors from the sports industry. The list of sports figures read like an all star list. Investors like Stephen Curry of the Golden State Warriors, Tom Brady of the Tampa Bay Buccaneers, and Trevor Lawrence and his wife.
FTX is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk. FTX strives to be an intuitive yet powerful platform for all kinds of users, and to be the most innovative exchange in the industry.
