Top 50 largest unicorn companies in the world (P.12) FTX: A unicorn from cryptocurrency exchange


( As of January 2022, FTX’s valuation is $25 billion dollar.

FTX is a Bahamian-based cryptocurrency exchange. FTX is incorporated in Antigua and Barbuda and headquartered in The Bahamas. FTX operates FTX.US, a separate exchange available to US residents.

FTX is a cryptocurrency derivatives exchange built by traders, for traders. They strive to build a platform powerful enough for professional trading firms and intuitive enough for first-time users.

MIT graduates Sam Bankman-Fried and Gary Wang founded FTX in May 2019. Before founding FTX, Bankman-Fried traded international ETFs at Jane Street Capital, a proprietary trading firm, and founded Alameda Research, a quantitative trading firm.

In August 2020, FTX acquired Blockfolio, a cryptocurrency portfolio tracking app, for $150 million.

In July 2021, FTX raised $900 million at a $18 billion valuation from over 60 investors, including Softbank, Sequoia Capital, Third Point Management, Paul Tudor Jones, and Alan Howard. Binance, a competitor which invested in the company in 2020, divested of its share in 2021.

In September 2021, FTX moved their headquarters from Hong Kong to The Bahamas. On January 14, 2022, FTX announced a $2 billion venture fund, named FTX Ventures.

As of July 2021, the exchange is averaging $10 billion of daily trading volume and has over one million users.

According to wikipedia

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