FTX has raised $900m on a company valuation of $18bn

FTX has raised $900m on a company valuation of $18bn

Crypto derivatives exchange FTX has raised an industry record $900m in a Series B funding round. It was announced in a press release.

Sixty investors participated in the round, including SoftBank, Sequoia Capital, Paradigm, Coinbase Ventures, Ribbit Capital, Sino Global Capital, Multicoin, Circle, Lightspeed, Third Point, billionaires Alan Howard and Paul Tudor Jones. FTX was valued at $18bn.

The company will use the funds raised to expand its global footprint, improve products, make strategic investments, and create software on a White Label basis and make it available to companies from the traditional world of finance that want to embrace the crypto industry.

"Whether it's a neobank wishing to offer crypto trading or a payment portal, everything we have is available through the API," said company head Sam Bankman-Fried.

FTX had previously announced it was raising up to $1bn in additional funding.

Recall that Bankman-Fried has not ruled out a future purchase of Goldman Sachs or CME Group, once it manages to beat the competition Coinbase and Binance.

The Tether Wallet is a Google Chrome browser extension that uses asymmetric encryption for the Single Sign On functionality, which further allows you to sign all transactions and log into all applications. 

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