Singapore state investment company Temasek Holdings helped lead a new round of fundraising for crypto firm FTX Trading, which brought US$420 million of fresh capital for the Bahamas-headquartered firm.
The other lead investors were Canada’s Ontario Teachers' Pension Plan Board and New York-based Tiger Global.
The fundraising drew 69 investors in total, including Sequoia Capital, Sea Capital, and Ribbit Capital, FTX says in a statement.
According to the firm, it now has a valuation of $25 billion.
FTX says its user base has grown 48% since the last fundraising in July and that its average trading volume has surged 75% to $14 billion a day.
The firm owns and operates the FTX.com cryptocurrency exchange which caters to a wide customer base, including retail investors, family offices and institutional investors. It was founded by entrepreneurs Sam Bankman-Fried and Gary Wang.
