FTX Trading’s $900 Million Series B Financing

Fenwick & West advised FTX Trading Ltd. on the deal.

FTX Trading Ltd., owner and operator of FTX.COM, a cryptocurrency exchange, announced its $900 million Series B financing, valuing the company at $18 billion.

More than 60 investors participated in the round, including Paradigm, Sequoia Capital, Thoma Bravo, SoftBank, Ribbit Capital, Insight Partners, Third Point, Lightspeed Venture Partners, Altimeter, BOND, NEA, Coinbase Ventures, Willoughby Capital, 40North, Senator Investment Group, Sino Global Capital, Multicoin, the Paul Tudor Jones family, Izzy Englander, Alan Howard, VanEck, Hudson River Trading and Circle.

This new financing round will expand FTX’s global presence, accelerate the company’s growth, and represents one of the largest raises for a crypto company.

The Fenwick team included Andrew T. Albertson (Picture), Can Sun, Ph.D., Jacob Wittman, Joseph Doll, David L. Forst, Sean P. McElroy, Kris Hatch, Ryan J. Straus and Igor Voloshin.

Involved fees earner: Andrew Albertson – Fenwick & West LLP; Joseph Doll – Fenwick & West LLP; David Forst – Fenwick & West LLP; Kristofer Hatch – Fenwick & West LLP; Sean McElroy – Fenwick & West LLP; Ryan Straus – Fenwick & West LLP; Can Sun – Fenwick & West LLP; Igor Voloshin – Fenwick & West LLP; Jacob Wittman – Fenwick & West LLP;

Law Firms: Fenwick & West LLP;

Clients: FTX Trading Ltd.;

Author: Martina Bellini