Why did FTX raise $420 million?

Cryptocurrency exchange FTX has raised $420 million in a new round of funding valuing the company at $25 billion. The firm raised the fresh cash from a total of 69 investors including the Ontario Teachers’ Pension Plan Board, Singapore’s Temasek, BlackRock and Sequoia. The numbers “420” and “69″ are an obvious nod to meme culture.

How many users does FTX have?

FTX has 1.2 million registered users across its platforms, although it has not updated this stat since the start of 2021. Note: Users across all FTX platforms (Blockfolio, FTX Pro and desktop). Source: Company data FTX managed to quadruple its peak 24 hour trading volume in 2021, reaching $21 billion.

How much money did FTX make in 2021?

FTX made $1.02 billion revenue in 2021, an increase on the $85 million it reported in 2020 It has over one million users on its mobile and desktop platforms FTX managed $385 billion annual crypto trading volume in 2020 FTX generated $1 billion revenue in 2021, over 1000% more than it made in the previous year.

How much money did FTX invest in Mercado Bitcoin?

The Japanese conglomerate also invested $200 million in Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America. FTX said it had grown rapidly since its last funding round in October. Its daily trading volumes have jumped 40% to about $14 billion, making it the world's third-largest crypto exchange.