Cybercurrency Exchange FTX’s Valuation Hits $32 Billion Despite Downturn in Crypto Market

Cybercurrency Exchange FTX’s Valuation Hits $32 Billion Despite Downturn in Crypto Market
A stock photo of the cryptocurrency Bitcoin. Kanchanara/Unsplash
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The cryptocurrency exchange FTX announced on Jan. 31 that it saw its valuation swell to $32 billion, after it had raised $400 million from investors including SoftBank, in a new round of funding.

Other investors in this fundraising round include Singapore’s Temasek Holdings Tiger Global and the Ontario Teachers’ Pension Plan Board, according to FTX.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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