FTX raises $400Mn at $32Bn valuation
By MYBRANDBOOK
Crypto bandwagon FTX Trading Ltd. has raised $400 million as part of its latest Series-C funding round, valuing the company at $32 billion. FTX has become one of the world’s largest crypto exchanges since its launch about three years ago, in part through marketing.
The funding round saw participation from Temasek, Paradigm, Lightspeed Venture Partners, as well as SoftBank Vision Fund 2, among others. Other participants include Ontario Teachers’ Pension Plan Board, Steadview Capital and Tiger Global.
FTX plans to expand this year and the funds will likely go toward mergers and acquisitions. CEO Sam Bankman-Fried said that the interesting areas to target include payments businesses, NFT-centric firms and the metaverse.
Bankman-Fried said, “By default, we are net profitable and so we don’t need to be raising for that reason -- but a reason that it is helpful, however, is when you look at potential acquisitions and investments. There are a number of businesses that we think might be synergistic with ours.”
Bahamas-based FTX is the owner and operator of FTX.com, a crypto platform that caters to a wide customer base including retail and institutional investors outside the United States.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
NETWEB TECHNOLOGIES INDIA LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
DRUVA SOFTWARE PVT. LTD.
VERSA NETWORKS INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : RAMESH NATRAJAN
Ramesh Natarajan, CEO of Redington Limited, on overcoming ‘technolog...
ICONS OF INDIA : SANTHOSH VISWANATHAN
Santhosh Viswanathan is the the Vice President and Managing Director f...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
PARTNER SPEAKERS
PSU
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - JAYASHREE ULLAL, President and CEO - Arista Network
Jayshree V. Ullal is a British-American billionaire businesswoman, ser...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
