Cryptocurrency exchange FTX on Monday announced the closing of a $400 million USD Series C fundraise, increasing its valuation to $32 billion USD.
SoftBank Vision Fund 2, Lightspeed Venture Partners, Steadview Capital and others participated in the Series C round — the third fundraise to occur in the past six months for FTX.com. Over this period, FTX.com’s valuation has increased by over 75%.
“Our Series C financing round represents a milestone achievement for FTX, as we raised close to $2 billion in six months,” FTX CEO Sam Bankman-Fried said in a press release. “This round will support our continued mission of delivering innovative products and services to the marketplace as well as expanding our global reach with additional licenses around the world. With the ongoing support from our dedicated investors and userbase, FTX will look to continue interacting with regulators to facilitate access to digital assets in a safe and compliant manner.”
The popular platform has continued to grow since October when it closed a $420 million USD Series B funding round, which ballooned its value to $25 billion USD. Over the past three months, the company’s user base has grown by 60% and its average daily trading volume increased by 40%, reaching approximately $14 billion USD in daily volume.
The company says it is now the third-largest crypto exchange in the world and the largest exchange outside of China. It recently launched FTX Ventures, a $2 billion USD venture fund to develop projects in web3.
In other news, FTX recently partnered with Monumental Sports and Entertainment to become the official cryptocurrency exchange and NFT partner for its properties.
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