Crypto Exchanges

Billionaire Bankman Fried’s Crypto Exchange FTX Lands $32 Billion #criptocurrency #cripto

In its third funding round in six months, FTX Trading, one of the world’s busiest cryptocurrency exchanges, has raised another $400 million in new investments, the firm announced Monday morning, boosting its valuation to a staggering $32 billion despite a January selloff that’s wiped more than $500 billion from the value of the world’s cryptocurrencies. Since its launch just two years ago, FTX has quickly grown into one of the world’s largest cryptocurrency exchanges, consistently ranking among the top ten busiest by trading volume, according to CoinMarketCap. On Monday, FTX said it’s “grown significantly” since its last funding round in October, with its user base increasing by 60% and average trading volume averaging about $14 billion per day. The crypto market is currently worth about $1.7 trillion, down more than 40% from an all-time high of $3.1 trillion in November, according to CoinGecko. In January alone, losses have totaled more than $500 billion after the Federal Reserve sparked a broad selloff earlier this month by cautioning it may move more quickly than previously expected to reverse policy meant to bolster the economy during the pandemic. On Monday, Bankman-Fried sought to temper concerns about the recent selloff, telling CNBC the interest-rate concerns have moved markets beyond just cryptocurrencies and saying he doesn’t believe we’re entering a “long-term crypto winter.”$17.1 billion. That’s how much Bankman-Fried was worth before the latest funding round, according to Forbes, making him the world’s richest 29-year-old. Meet The World’s Richest 29-Year-Old: How Sam Bankman-Fried Made A Record Fortune In The Crypto Frenzy (Forbes)

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