Crypto firm FTX Trading’s valuation rises to $18 bn after $900 mn funding

FTX Trading Ltd said on Tuesday its valuation had risen to $18 billion after a $900 million funding round that included SoftBank Group Corp and was one of the biggest fundraises for a crypto company.

The round saw participation from more than 60 investors, including venture capital firm Sequoia Capital, private equity giant Thoma Bravo, Daniel Loeb’s Third Point, the Paul Tudor Jones family and British hedge fund manager Alan Howard.

The latest funding comes as investor sentiment towards cryptocurrencies has somewhat soured after an initial euphoria earlier this year due to mounting regulatory concerns globally.

Binance, another major cryptocurrency exchange, has faced scrutiny from regulators in Britain, Germany, Japan, and Hong Kong. The United States is also investigating the exchange, according to a media report.