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FTX crypto exchange raises $420M from 69 investors
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FTX, one of the largest cryptocurrency exchanges in the world, has raised $420 million in fresh funding, bringing its total valuation to $25 billion.
The firm officially announced Oct. 21 that FTX’s operator FTX Trading has completed a new Series B-1 fundraise involving 69 investors including Ontario Teachers' Pension Plan Board and Singapore’s state investment firm Temasek.
Other investors included major venture capital firms like Sequoia Capital, Tiger Global, Sea Capital, Ribbit Capital, Lightspeed Venture Partners and funds and accounts managed by BlackRock.
According to FTX’s head of product Ramnik Arora, the new funding will help the company further expand its market opportunities across equities, prediction markets, nonfungible tokens
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