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FTX saw the biggest fundraising in cryptocurrency


FTX trading Ltd on Tuesday has a seen a huge leap of $18 billion in its valuation after a $900 million funding round including SoftBank Group Corp. This was one of the biggest fundraises for a crypto company. More than 60 investors had participated in this round. Sam Bankman-Fried, a 29-year-old is the founder of FTX cryptocurrency exchange. The two-year-old company already has more than 1 million users & the trading volume is $10 billion per day. The revenue this year is expected to grow tenfolds. FTX is backed up by celebrity couples like Tom Brady & Gisele Bundchen catering to a wide variety of traders, retail investors, family offices & institutional traders.

Source: Reuters

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