{"id":6459,"date":"2021-07-20T20:10:15","date_gmt":"2021-07-20T19:10:15","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=6459"},"modified":"2021-07-20T20:10:25","modified_gmt":"2021-07-20T19:10:25","slug":"ftx-closes-largest-funding-round-in-crypto-history","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ftx-closes-largest-funding-round-in-crypto-history\/","title":{"rendered":"FTX closes the largest funding round in crypto history"},"content":{"rendered":"\n
FTX<\/a> started comparatively late with its entrance in 2019. However,\u00a0reflecting the rapid growth of the exchange over time the crypto platform has grown to become a Binance rival.<\/h5>\n\n\n\n
\"FTX<\/figure><\/div>\n\n\n\n

With a $900 million series B investment round, the FTX crypto exchange has closed the largest funding round in crypto history.<\/p>\n\n\n\n

Sequoia Capital, Third Point, Lightspeed Venture Partners, Coinbase Ventures, Softbank\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, and others participated in the investment round, with Sequoia Capital, Third Point, Lightspeed Venture Partners, Coinbase Ventures, Softbank, and others providing lead funding.<\/p>\n\n\n\n

The exchange's 29-year-old founder and CEO, Sam Bankman-Fried, commented on their record fundraising, saying,<\/p>\n\n\n\n

1) I'm deeply humbled by the support we've gotten from our new partners:https:\/\/t.co\/Yz34mEEGcR<\/p>

\u2014 SBF (@SBF_Alameda) July 20, 2021<\/p><\/blockquote>\n\n\n\n

Because of his 58% shareholding in the company,<\/a> CEO Bankman Fried has become the wealthiest crypto billionaire, with his entire value increasing to $16.2 billion as a result of the recent investment round's closure.<\/p>\n\n\n\n

\u201cWe\u2019ve seen tremendous growth from them, we\u2019re very happy with that but we\u2019ve exited completely. We\u2019re still friends but we no longer have any equity relationship.\u201d<\/p><\/blockquote>\n\n\n\n

With a slew of new collaborations and sponsorship arrangements, as well as a recent fundraise that is nearly double the value of the last one, the cryptocurrency has been on a roll.<\/p>\n\n\n\n

The exchange, which is best known for its derivative trading services<\/a>, has quickly risen to become the third-largest spot market. Retail and institutional investors use the site, which has one million registered users.<\/p>\n","protected":false},"excerpt":{"rendered":"

FTX started comparatively late with its entrance in 2019. However,\u00a0reflecting the rapid growth of the exchange over time the crypto platform has grown to become a Binance rival. With a $900 million series B investment round, the FTX crypto exchange has closed the largest funding round in crypto history. Sequoia Capital, Third Point, Lightspeed Venture […]<\/p>\n","protected":false},"author":12,"featured_media":6465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[1660,778,1659],"class_list":["post-6459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-crypto-history","tag-ftx","tag-funding"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/FTX-Closes-Largest-Funding-Round-in-Crypto-History.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/6459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=6459"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/6459\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/6465"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=6459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=6459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=6459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}