FTX Closes $420 Million in Series B-1 Funding: Company Now Valued At $25 Billion
21 Oct, 2021•2 min read•Other
One of the leading cryptocurrency exchanges, FTX, just revealed that it finalized massive funding round, the numbers in which are inspired by – you guessed it – the 420 and 69 meme numbers.
Memes have become particularly popular and part of the cryptocurrency culture. From food-based tokens, apes, degens, and pop culture numbers, it appears that we’ve seen it all. Yet, Sam Bankman-Fried’s FTX cryptocurrency exchange doesn’t stop to lift eyebrows. In a recent press release, it was revealed that the company raised $420,690,000 in a series B-1 funding round from exactly 69 investors. While the numbers might be based on pop culture memes, the participants definitely weren’t. Some of the names include BlackRock – the world’s leading asset manager, as well as Tiger Global. This round gave FTX a valuation of $25 billion. It’s safe to say that the exchange has been through a lot lately, and it’s doing well to increase its presence throughout the retail market. Basketball superstar Stephen Curry joined the exchange as an ambassador, and a shareholder back in September after Shark Tank star and millionaire investor Kevin O’Leary did the same earlier. Back in July, the company raised $900 million from companies like VanEck, Circle, Softback, as well as legendary investor Paul Tudor Jones.