Crypto Exchange FTX Hits $25 Billion Valuation in Latest Funding Round

FTX has memed itself into yet another mammoth valuation. Read the full article by: Tim Hakki

Key Points:

• FTX has been all over the place in the past year making their name bigger and bigger by the day. FTX raised another $420 Million from 69 investors bringing the valuation of the company to $25 Billion.

• CEO Sam Bankman-Freid was also recently named on the Forbes 30 under 30 list which showcases the 30 richest people under the age of 30. His empire continues to grow which makes FTX one of the fastest growing exchanges in the space.

• The amount of people using the exchange also continues to grow as it has increased almost 48% since July. Trade Volume has also increased around 75% with a daily average of $13 Billion in trading volume.

• This money will be put towards “adjacent market opportunities including equities, prediction markets, NFTs and videogame partnerships,” said FTX’s head of product, Ramnik Arora. “We expect to make strategic investments designed to grow the business and expand our regulatory coverage."