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Crypto Exchange FTX US Reaches $8 Bln Valuation After New Funding

Anna Martynova

On Wednesday, crypto exchange FTX US closed a $400 mln funding round at an $8 bln valuation. Multicoin Capital, Paradigm Temasek, Lightspeed Venture Partners and other investors participated in the round. According to FTX US President Brett HARRISON, this development makes the firm one of the largest crypto exchanges in the US.

The exchange intends to use the funds received to expand its client base by investing in its own products, digital marketing and attracting new specialists. Now the company is considering buying strategically important assets, as it already did with the cryptocurrency derivatives exchange LedgerX.

Going forward, FTX US plans to become a one-stop provider of digital and traditional financial services. Harrison is confident that a single platform with a wide range of features will be the best way to attract customers.

Image: Medium

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