NASSAU, Bahamas, Oct. 21, 2021 /PRNewswire/ -- FTX Trading Ltd. ("FTX" or "the Company"), owner and operator of FTX.COM, a leading global cryptocurrency exchange, today announced the closing of a $420,690,000 Series B-1 fundraise, increasing the valuation of the Company to $25 billion. The round saw the participation of 69 investors, including Ontario Teachers' Pension Plan Board, via its Teachers' Innovation Platform, Temasek, Sequoia Capital, Sea Capital, IVP, ICONIQ Growth, Tiger Global, Ribbit Capital, Lightspeed Venture Partners and funds and accounts managed by BlackRock.
The Company also disclosed that in addition to the B-1 fundraise, Temasek had participated in the previously announced Series B, and updated the total amount of that raise from $900 million to $1 billion.
Coming three months after FTX's Series B, this financing round is a testament to the Company's continued growth and will allow FTX to expand into new jurisdictions, improve upon its current offerings, and further establish itself as a marketplace leader.
Sam Bankman-Fried, CEO of FTX, commented on the news, "We founded FTX two years ago with the idea of creating a better financial marketplace. Today we are focused on establishing FTX as a trustworthy and innovative exchange by regularly engaging with regulators around the world, and constantly seeking opportunities to enhance our offerings for digital asset investors. For this round, we capitalized on those strides and were able to partner with...
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