Soon after Bitcoin hit a new all-time high, FTX announces that it received $420,690,000 in new funding (420, 69, you know). The crypto exchange giant achieves $25 billion post-money valuation. Meanwhile, FTX has recorded a 45% jump in its user base since July. And, the average daily transaction volume reaches US$14 billion, up 75% in the past three months.
69 institutions participated in FTX’s new funding round, including Temasek, BlackRock, Sequoia, Tiger Global, ICONIQ Growth, and Lightspeed Venture Partners.
FTX is set for acquisition and investment with the fresh capital. Moreover, it plans to use the funds to expand new businesses. This includes tokenized stocks, prediction products, NFT, as well as potential collaboration with gaming companies.
FTX Airdrops $500 to Miami Heat Spectators
In addition, FTX will accelerate the expansion of brand awareness, with particular emphasis on sponsoring basketball, chess and other events.
Recently, NBA superstar Stephen Curry became a FTX shareholder and brand ambassador.
In May, FTX became the sponsor of the NBA team Miami Heat and named the stadium FTX Arena. In Heat’s first regular game this year, SBF was in the stadium for the game. Meanwhile, FTX is sending $500 to everyone in one section of the arena!
The FTX billionaire has frequently appeared in mainstream media recently. He is the world’s richest person in the crypto industry with a new worth of $22.5 billion, according to Forbes.
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