Cryptocurrency exchange FTX has announced the closing of a $900 million Series B funding round, which brings the company's valuation at $18 billion. According to a press release, Paradigm, Sequoia Capital, Coinbase Ventures, the Paul Tudor Jones family, Alan Howard, VanEck, Circle, and many more joined the funding. In total, the exchange attracted the capital from 60 investors.
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FTX says the funds will allow it to expand its product offerings and user base. The exchange will also leverage the funds to further enhance its offerings and make strategic investments designed to grow the business.
"I am incredibly humbled by the support we have gotten. It is our first large fundraise, but through it we have formed a hugely valuable set of partners," said Sam Bankman-Fried, FTX Chief Executive.
The funding round comes after the exchange launched trading of the tokenized stocks. The exchange's list of tokenized stocks includes 60 of the world's largest companies, including TSLA, GOOGL, FB, NFLX and others. Trading takes place 24/7 and settles instantly.
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