Before this investment, FTX was already the beneficiary for the most extensive funding ever received by a crypto asset company in the market.
Also in July 2021, FTX received a funding of US$ 900 million through the first round of series B, when the exchange was valued at US$ 18 billion.
Considered the largest investment ever received by a crypto company, FTX’s US$ 900 million funding was organized by 60 major investors such as Rabbit Capital and Paradigm.
Meanwhile, the B-1 funding of about US$ 420 million was led by nine investors, such as BlackRock and Tiger Global, according to Coindesk. In total, FTX received US$ 1.32 billion, arranged in two rounds of series B investments.
Since the first round of series B funding in July 2021, FTX has shown impressive growth. In just three months, the number of users has grown by 48%. In addition, the exchange’s cryptoasset transaction volume has jumped by 75 percent in the same period.
In addition to receiving new funding, FTX works with a major M&A front. According to an interview with CoinDesk from FTX CEO and creator Bankman-Fried, US$ 500 million has been invested in buying new platforms. Without revealing further details about FTX’s expansion and M&A strategy, Bankman-Fried signals that other acquisitions could still happen.