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Paul Tudor Jones Takes Part in $900 Million Funding Round of Major Cryptocurrency Exchange

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Tue, 07/20/2021 - 17:38
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Alex Dovbnya
FTX has wrapped up the biggest funding round in the history of the cryptocurrency industry
Paul Tudor Jones Takes Part in $900 Million Funding Round of Major Cryptocurrency Exchange
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The family of legendary hedge fund manager Paul Tudor Jones took part in the $900 million Series B of cryptocurrency exchange FTX, Forbes reports.  

The record-shattering funding round also included such big-name investors as British billionaire Alan Howard, Softbank, Sequoia Capital, Circle, and VanEck.  

Meanwhile, Binance, an early backer of the rival exchange, got rid of its entire stake in the company, according to CEO Changpeng Zhao:

We’ve seen tremendous growth from them, we're very happy with that but we’ve exited completely.

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The Hong Kong-based exchange—which launched operations back in May 2019— is currently valued at an eye-popping $18 billion.

Despite being a relative newcomer to the crypto industry, the upstart trading exchange has already achieved decent brand recognition because of its major sponsorship deals.

FTX CEO Sam Bankman-Fried has solidified his status as the richest known individual in crypto with an estimated net worth of $16.2 billion. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.