Cryptocurrency exchange FTX US has raised $400 million in a Series A Round, valuing the exchange at $8 billion. According to a press release, Paradigm and Temasek amongst others participated in the round.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
FTX US says it will use the proceeds to continue accelerating its growth in addition the to expansion of its US presence. With the latest funding round, the exchange also plans to make "strategic investments and acquisitions." The funding round comes after reports revealed that the US divisions of FTX and Bitstamp are actively working on a feature that would allow users to trade stocks on their platforms. It remains unclear though when exactly the exchanges might launch the new service.
Earlier, FTX launched a $2 billion venture fund to invest in equity and/or tokens, at any check size and stage. While the requirements for funding remain unclear, FTX Ventures said it is ready to back even anonymous developers. The venture will focus on gaming, social, software, fintech, and healthcare. The $2 billion fund will also "occasionally" invest in startups outside of the cryptocurrency market.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.