Temasek, Sea Capital back crypto exchange FTX's $420m Series B1 funding

Photo: FTX website

FTX Trading, the owner and operator of cryptocurrency exchange FTX.COM, has raised $420.69 million in a Series B1 round of financing, bringing the firm’s valuation to $25 billion.

The Bahamas-based firm said that it raised the fresh capital from investors including the Ontario Teachers’ Pension Plan Board (OTPP), Singapore’s Temasek, Sequoia Capital, Sea Capital, IVP, ICONIQ Growth, Tiger Global, Ribbit Capital, Lightspeed Venture Partners, as well as funds and accounts managed by BlackRock.

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