FTX US Raises $400M and Hits $8 Billion Valuation

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The US division of digital asset platform FTX has recently completed a $400 million Series A funding round and has reached a valuation of $8 billion.

The participants in the funding round include Paradigm, Temasek, NEA, Multicoin Capital, Tribe Capital, Ontario Teachers’ Pension Plan Board, SoftBank Vision Fund 2, Greenoaks Capital, Steadview Capital, Lightspeed Venture Partners and other investors.

In December last year it was reported that the head of the parent FTX, Sam Bankman-Fried, planned to raise a total of $1.5 billion in investments for the global derivatives exchange and the US branch. It was assumed the valuation of the first would reach up to $32 billion, and the second $8 billion.

The company has reported that it will use the funds to strengthen its position in the United States and implement the emerging rules for regulating digital assets.