FTX worth $ 32 billion because Blue-Chip investors are pushing into crypto groups

The FTX cryptocurrency exchange was rated $ 32 billion in a new financing round, which was announced on Monday, because Blue-Chip investors continue to push into the sector powered by Hype.

Japan's Softbank and Canada's Ontario Teachers' Pension Plan were among those who took part in a new investment round of $ 400 million for Bermuda, the third time that FTX received new funds within six months.

The company, which is led by 29-year-old crypto billionaire Sam Bankman-Fried, was estimated at $ 25 billion in his capital procurement announced in October last year. In 2020, FTX was only worth $ 1.2 billion.

Bankman-Fried said that the recent “financing round represents a milestone for FTX because we have raised almost $ 2 billion in six months”.

The deal illustrates the insatiable appetite of traditional investors on companies that work in the world of digital assets, whereby billions of dollars flow from dollars to a sector from which advocates say that he represents a new border for finances, but skeptics warn that many small investors are exposed to the risk of losing huge sums.

The evaluation of FTX has exceeded more traditional financial institutions like Deutsche Bank with a market capitalization of $ 25 billion.

Apart from the announcement of Monday, the company's US business was estimated at $ 8 billion after it had raised $ 400 million last week, including financing by the Singapore State Investor Temasek, the Vision Fund of Softbank and the US investment group Tiger Global.

The high price comes despite the severe decline in cryptocurrency prices in January when Bitcoin lost 20 percent of its value.

This trend hit the competing stock exchanges, whereby the shares of Coinbase have fallen by more than half since the company was listed at Nasdaq in April and cut its market value by USD 50 billion. Crypto exchanges have reacted with a flood of new notations for coins and tokens that could attract the attention of the global financial supervisory authorities.

ftx said that his new rating reflects the considerable growth that the company has recorded in the past six months, including a 60 percent growth of the number of its users and an increase in daily trading volume on the platform, which amounts to around $ 14 billion a day. FTX is the third largest crypto exchange after Binance and Coinbase.

ftx was launched by Bankman-Fried in May 2019, two years after he founded the crypto trade company Alameda Research. In January, FTX added a risk capital investment division with a war treasury of $ 2 billion.

Bankman-Fried said that the latest financing will "support our continued mission to provide innovative products and services... As well as the expansion of our global reach with additional licenses around the world".