FTX raises largest-ever VC round for a crypto company

FTX, a Hong Kong-based cryptocurrency exchange that launched in 2019, raised $900 million in Series B funding at an $18 billion valuation.

Why it matters: It’s the largest-ever VC round for a crypto company, let alone for an exchange that prohibits Americans from trading on its primary marketplace.

What FTX is tweeting: “We’d like the fanciest bean bag you have sir.”

Investors include 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.

For your ears: Axios Re:Cap digs into the conflict between climate and crypto, with investor Anthony Pompliano.