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Sam Bankman-Fried's FTX Raises Another $400 Million With Eye to M&A

  • Saw participation from Temasek, Paradigm, Lightspeed Venture
  • Funds will likely go toward mergers and acquisitions, says CEO
Sam Bankman-Fried
Sam Bankman-FriedPhotographer: Lam Yik/Bloomberg
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Crypto juggernaut FTX Trading Ltd. said it raised $400 million as part of its latest funding round, which now values the company at $32 billion.

The Series-C round saw participation from Temasek, Paradigm, Lightspeed Venture Partners, as well as SoftBank Vision Fund 2, among others, according to a statement.