{"id":21465,"date":"2022-01-31T16:52:35","date_gmt":"2022-01-31T14:52:35","guid":{"rendered":"https:\/\/coincheckup.com\/blog\/?p=21465"},"modified":"2022-01-31T17:06:46","modified_gmt":"2022-01-31T15:06:46","slug":"ftx-hits-32-billion-valuation-on-the-heels-of-400-million-series-c","status":"publish","type":"post","link":"https:\/\/coincheckup.com\/blog\/ftx-hits-32-billion-valuation-on-the-heels-of-400-million-series-c\/","title":{"rendered":"FTX Hits $32 Billion Valuation on the Heels of $400 Million Series C"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1280\" src=\"https:\/\/coincheckup.com\/blog\/wp-content\/uploads\/FTX-cover.jpg\" alt=\"\" class=\"wp-image-21467\" srcset=\"https:\/\/coincheckup.com\/blog\/wp-content\/uploads\/FTX-cover.jpg 1920w, https:\/\/coincheckup.com\/blog\/wp-content\/uploads\/FTX-cover-300x200.jpg 300w, https:\/\/coincheckup.com\/blog\/wp-content\/uploads\/FTX-cover-1024x683.jpg 1024w, https:\/\/coincheckup.com\/blog\/wp-content\/uploads\/FTX-cover-768x512.jpg 768w, https:\/\/coincheckup.com\/blog\/wp-content\/uploads\/FTX-cover-1536x1024.jpg 1536w, https:\/\/coincheckup.com\/blog\/wp-content\/uploads\/FTX-cover-900x600.jpg 900w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Key takeaways:<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>A leading cryptocurrency exchange FTX raised $400 million during its Series C fundraising round led by Temasek and Paradigm<\/li><li>The exchange has reached a $32 billion valuation, surpassing the market cap of some of the biggest publicly traded companies in the world<\/li><li>Last week, FTX US, the American-based arm of the international FTX exchange, raised $400 million in Series A at an $8 billion valuation<\/li><\/ul>\n\n\n\n<p>The FTX cryptocurrency exchange has <a href=\"https:\/\/www.prnewswire.com\/news-releases\/ftx-trading-ltd-closes-400m-series-c-round-301471084.html\" target=\"_blank\" aria-label=\" (opens in a new tab)\" rel=\"noreferrer noopener nofollow\" class=\"rank-math-link\">announced<\/a> the close of its latest funding round, during which the rapidly growing digital asset trading platform raised $400 million from a series of high-profile investors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">With a $32 billion valuation, FTX is now bigger than Philips and Twitter in terms of market cap<\/h2>\n\n\n\n<p>The Series C fundraise saw participation from notable venture capital firms, such as Temasek, Paradigm, and SoftBank. The close of the latest funding round comes roughly a week after the exchange\u2019s American arm, FTX US, announced a $400 million haul in its first-ever external fundraising round. At the time, President of FTX US Bret Harrison stated that Series A reflected \u201cboth what we\u2019ve concretely accomplished and what we\u2019ve laid the groundwork for in 2022.\u201d<\/p>\n\n\n\n<p>According to Monday\u2019s <a href=\"https:\/\/www.prnewswire.com\/news-releases\/ftx-trading-ltd-closes-400m-series-c-round-301471084.html\" target=\"_blank\" aria-label=\" (opens in a new tab)\" rel=\"noreferrer noopener nofollow\" class=\"rank-math-link\">press release<\/a>, most investors who participated in previous FTX funding rounds have contributed to the Series C as well, showcasing their \u201cbelief in the Company&#8217;s vision.\u201d Sam Bankman-Fried, the founder and CEO of FTX, commented on the success of Series C:\u00a0<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;Our Series C financing round represents a milestone achievement for FTX, as we raised close to $2 billion in six months. This round will support our continued mission of delivering innovative products and services to the marketplace as well as expanding our global reach with additional licenses around the world.\u201d<\/p><\/blockquote>\n\n\n\n<p>Bankman-Fried added that the exchange will continue working with policymakers and financial watchdogs to \u201c facilitate access to digital assets in a safe and compliant manner.\u201d In pursuit of this goal, FTX US has recently <a href=\"https:\/\/coincheckup.com\/blog\/ftx-us-inks-new-sports-partnership-deal-to-push-the-industry-forward\/\" target=\"_blank\" aria-label=\" (opens in a new tab)\" rel=\"noreferrer noopener\" class=\"rank-math-link\">inked a sponsorship deal<\/a> with Washington-based sports organizations, which the exchange hopes will help increase its favor among the US regulators.<\/p>\n\n\n\n<p>FTX concluded its <a aria-label=\"Series B (opens in a new tab)\" href=\"https:\/\/www.prnewswire.com\/news-releases\/ftx-trading-ltd-closes-420-million-series-b-1-funding-round-301405473.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" class=\"rank-math-link\">Series B<\/a> round last October &#8211; with more than $420 million raised, the company\u2019s valuation reached $25 billion at the time.\u00a0As a side note, and to illustrate how far along the industry has progressed in just a few years, Coinbase&#8217;s <a aria-label=\"Series E (opens in a new tab)\" href=\"https:\/\/techcrunch.com\/2018\/10\/30\/coinbase-is-now-valued-at-8b-after-closing-new-300m-round\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" class=\"rank-math-link\">Series E<\/a> netted the first US publicly traded exchange $300 million, which pushed the valuation to $8 billion at the time. Today, Coinbase (COIN) trades at roughly $182 per share, good for a market cap of $39.1 billion.<\/p>\n\n\n\n<p>With its current valuation of $32 billion, FTX enjoys a larger market cap than some of the most prominent tech companies globally, such as Dutch tech conglomerate Philips ($28.4 bln) and social media giant Twitter ($28.2 bln).<\/p>\n\n\n\n<p>FTX\u2019s native exchange token <a href=\"https:\/\/coincheckup.com\/coins\/ftx-token\" target=\"_blank\" aria-label=\" (opens in a new tab)\" rel=\"noreferrer noopener\" class=\"rank-math-link\">FTT<\/a> gained more than 3.5% on the news and set a new cycle high of $42.72 at press time. FTT gained more than 33% in the last seven days and is currently one of 2022\u2019s biggest gainers in the cryptocurrency top 100.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button big-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/ftx.com\/#a=coincodex\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Create FTX Account<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The FTX cryptocurrency exchange has announced the close of its latest funding round, during which the rapidly growing digital asset trading platform raised $400 million from a series of high-profile investors.<\/p>\n","protected":false},"author":40,"featured_media":21467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_ast_enabled":false,"_ast_config_mode":"defaults","_ast_targets":[],"_ast_fields":[],"_ast_overwrite":"always","_ast_creation_mode":"sync","_ast_last_source_hash":"","_ast_status_it":"","_ast_status_sl":"","_ast_status_fr":"","_ast_status_id":"","_ast_status_pt":"","_ast_status_tr":"","_ast_status_ru":"","_ast_status_de":"","_ast_status_es":"","footnotes":""},"categories":[149],"tags":[301,137,713,491,217,785,327],"class_list":{"0":"post-21465","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cryptocurrency-news","8":"tag-cryptocurrency-exchange","9":"tag-cryptocurrency-invesments","10":"tag-ftt","11":"tag-ftx","12":"tag-ftx-token","13":"tag-ftx-us","14":"tag-investment"},"lang":"en","translations":{"en":21465},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/posts\/21465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/comments?post=21465"}],"version-history":[{"count":0,"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/posts\/21465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/media\/21467"}],"wp:attachment":[{"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/media?parent=21465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/categories?post=21465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coincheckup.com\/blog\/wp-json\/wp\/v2\/tags?post=21465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}