FTX's cryptocurrency trading platform in the US is preparing to raise "huge" capital to continue the battle for market share in the US.
According to a source from CoinDesk, CEO Sam Bankman-Fried of crypto exchange FTX is inviting institutional investors to participate in a $1.5 billion funding round for FTX.US – a platform dedicated to the market. America of FTX. Reportedly, this new round of funding will be done through shares of FTX.US and set the exchange's valuation at $8 billion.
This is the third time in 2021 alone, FTX has mobilized capital. As reported by Coin68 in July 2021, billionaire Sam Bankman-Fried's exchange conducted the largest funding round in crypto history, raising $900 million at a valuation of $18 billion. . After 3 months, FTX continued to shock the crypto world when it attracted another $420 million in investment capital, bringing its valuation to $25 billion.
If the FTX.US funding round comes to fruition, the value of the entire FTX will be $32 billion. However, neither FTX nor FTX.US have confirmed the information about the new round of funding.
In an interview with CoinDesk in October, CEO Sam Bankman-Fried confirmed that the newly raised money will continue to be spent by the exchange on mergers and acquisitions to expand FTX into many new markets. This is clearly shown in the brand promotion strategy of the floor in recent years.
FTX is promoting its brand promotion strategy, focusing on the US market through many "terrible" cooperation agreements with major sports organizations in the United States, including Mercedes' F1 racing team, and the NBA basketball team. Miami Heats, American Baseball (MLB), TSM esports team, North American League of Legends (LCS), Cal Athletics College and American football legend Tom Brady.
Besides, the exchange also recently moved its headquarters to the Caribbean island nation of Bahamas - located close to the United States, saying goodbye to Hong Kong because it thinks the legal environment here is no longer suitable.
This US is also a competitive "hot spot" for many major cryptocurrency exchanges. Besides FTX, many other platforms in the past time have spent hundreds of millions of dollars on mergers and acquisitions activities and promoting in the US through the sports segment, such as:Relate post:
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