• Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
Monday, May 16, 2022
No Result
View All Result
Our Bitcoin News
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
No Result
View All Result
Our Bitcoin News
No Result
View All Result

US FTX raised $900M in latest funding round – break records in crypto industry

News
by Gauri Bhatia
23 July 2021
US FTX raised $900M in latest funding round – break records in crypto industry
Share on FacebookShare on Twitter

FTX, a popular cryptocurrency exchange, recently raised a record-breaking $900 million in its latest round of funding, taking the company’s value to $18 billion. It proved that the recent dip in Bitcoin didn’t seem to faze the investors from participating in the crypto-asset industry.

The series B funding round boasted over 60 investors including some of the biggest firms such as the Japanese technology investor SoftBank Group., Silicon Valley venture-capital firm Sequoia Capital, venture-capital firm Ribbit Capital, hedge fund Third Point, Senator Investment Group, and others.

The funding round was led by the company itself, so there weren’t any lead investors in the process. Founder and CEO of FTX, Sam Bankman-Fried said in an interview:

“There are two main goals of the raise. One of them is just forming a lot of partnerships with people who we are really excited about and who we think can help grow our business and make a lot of connections for us. And the second piece is having more capital for M&A.”

The transactions led the company to become one of the highest valued cryptocurrency companies in the world. The company poured a considerable amount of money to advertise its brand. They recently signed a multi-million sponsorship deal with the NBA team ‘Miami Heat’.

Bankman-Fried revealed that they will use the funds raised for new products in both the US and Internationally. He also said that the company is not in a rush to go public, however, going public is still an important factor. He said:

“We’re still trying to get ourselves in a position where we could go public relatively quickly if we wanted to. But that doesn’t mean we think that now is the time to do it. Instead, we basically want to have that option if it does seem right, without having any immediate plans to actually take advantage of that.”

Previous Post

Tether’s General Council promises to release audit results in a few months

Next Post

Asset-backed digital currencies should comply with the Securities Act, says SEC Chairman

Gauri Bhatia

Gauri Bhatia

Gauri is a full-time Content Writer at Our Bitcoin News. With a degree in Economics, she covers major news and concerns surrounding crypto-space.

Related Posts

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

by Gauri Bhatia
29 April 2022

Some US bipartisan lawmakers have submitted a bill that seeks to foster innovation in the cryptocurrency space and build a...

Animoca Brands establishes joint venture with OneFootBall following $300M round

Animoca Brands establishes joint venture with OneFootBall following $300M round

by Gauri Bhatia
29 April 2022

Hong Kong-based Web 3 giant Animoca Brands has now formed a strategic joint venture with OneFootball, Football news and media...

Goldman Sachs issues its first Bitcoin-backed loan: report

Goldman Sachs issues its first Bitcoin-backed loan: report

by Damien Martin
29 April 2022

Goldman Sachs has taken another bullish step towards the digital asset space, now offering Bitcoin-collateralized loans to its customers, media...

No Result
View All Result

Recent Posts

  • The TRON Grand Hackathon 2022 Returns for Season 2
  • Of bulls and bears: Crypto giant Huobi Global beats the odds
  • TUSD Announces New Domain Name While Continuing to be a Top Stablecoin with its Three Core Competencies
  • Oraichain Enables Decentralized & Publicly Verifiable Randomness Generation For Dapps On Fantom Network
  • Lina Valentina’s “No More” NFT Collection Denounces Domestic Violence
Our Bitcoin News

© 2021 Our Bitcoin News

Navigate

  • Home
  • Press Release
  • Sponsored
  • Our Journalists
  • Advertise
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners

© 2021 Our Bitcoin News