FTX Reaches $32B Valuation With $400M Fundraise

The investment values the crypto exchange at the same level as Deutsche Boerse and more than Nasdaq or Twitter.

AccessTimeIconJan 31, 2022 at 1:00 p.m. UTC
Updated May 11, 2023 at 7:10 p.m. UTC

FTX raised $400 million in a Series C funding round that gives the cryptocurrency exchange a mammoth $32 billion valuation. That's about the same as the market cap of Germany's Deutsche Boerse and more than the Nasdaq exchange or Twitter.

The capital injection will help the exchange fund its global expansion and obtain additional licenses in different markets. CEO Sam Bankman-Fried has previously told CoinDesk that FTX was planning acquisitions and partnerships to enter more countries and grow its user base.

"FTX will look to continue interacting with regulators to facilitate access to digital assets in a safe and compliant manner," Bankman-Fried said in a statement today. "We look forward to working alongside our investors to achieve our mission and continue our tremendous growth throughout 2022 and beyond.”

The investment was raised at the same time as and from the same group of backers as the $400 million Series A round into FTX US, which gave the American affiliate an $8 billion valuation last week. Paradigm, Temasek, Multicoin Capital and SoftBank were among the firms participating.

The Series C funding round comes a little over three months after FTX raised $420 million, which gave the exchange a $25 billion valuation.

The amounts raised, however, fall short of the $1.5 billion figure reportedly targeted by Bankman-Fried last year.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.