Just in case you've been doubting the meme-ification of crypto and finance investment, crypto exchange FTX completed a Series B-1 funding round loaded with 420 and 69, like the missives stenciled into a college desk in the all-male dorm.
Sam Bankman-Fried’s Bahamas-based crypto exchange said Wednesday it had raised $420,690,000 in a Series B-1 funding round. Sixty-nine investors – including BlackRock and Tiger Global – joined the fast-growing crypto conglomerate.
Investors valued the exchange at $25 billion, FTX said, a nearly 39% jump over the Series B sticker price from July when it raised a whopping $900 million in crypto’s largest-ever venture capital funding round. FTX says users have grown 48% in that period and trading volume rose 75%.
Pomp firmly endorsed the news:
FTX has agressively - but with consent - asserted itself in the rapidly growing exchange market this year, striking partnerships with the likes Trevor Lawrence, Tom Brady, MLB, Miami Heat, and Steph Curry, among others.
I'm not sure the world is ready for this. In addition to the reinvetion of the financial sustem, decentralization of important apps, and general socierty upheavel soon to be brought about by crypto, now the old guard will have to put up with subreddit-ish headlines in PR relases from... squints... uh, $25 billion companies poised to dominate the next two centuries.
Liz Warren is still out here trying to get her head around the gig economy, and meanwhile here comes the nuevo financial system with sex and weed innuendos in their Series Bs.
I can't wait until we get our first congressional hearing on pixelated JPEGs.
Anyway, Elon approves: