- Companies
- FTX US
FTX US Valuation, Funding & Investors
FTX US is valued at - as of November 2022.
Last FTX US valuation
-
Secondary · Nov 2022
Last FTX US funding round
$400M
Series A · Jan 2022
Cumulative funding FTX US raised
$400M
across 1 funding round
Key investors in FTX US
Lightspeed Venture Partners
New Enterprise Associates
SoftBank Group
Temasek
Tribe Capital
Greenoaks
FTX US Overview
About FTX US
FTX US was a prominent, US-regulated cryptocurrency exchange and the American affiliate of the international FTX platform. Designed to service US residents, it offered spot and derivatives trading, NFTs, and an OTC desk. Following a multi-billion dollar fraud scheme, the platform filed for bankruptcy and ceased all operations.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
- (Nov 2022)
FTX US Valuation
FTX US is currently valued at -, based on its secondary sale in November 2022.
FTX US valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2022 | Secondary | - |
| Jan 2022 | Series A | $8B |
FTX US Funding History
FTX US has raised a total of $400M across 1 funding round, plus 1 secondary share sale.
FTX US funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2022 | Secondary | - | - | - | FTX and its affiliated entities, including FTX US, filed for Chapter 11 bankruptcy in November 2022 following a catastrophic liquidity crisis and the revelation of severe misuse of customer funds. The exchange's valuation rapidly plummeted from a peak of $8 billion to effectively zero. |
| Jan 2022 | Series A | Multicoin Capital (lead); Paradigm (lead); SoftBank Group (lead); Temasek (lead); Greenoaks; New Enterprise Associates; Ontario Teachers' Pension Plan; Steadview Capital; Tribe Capital; Lightspeed Venture Partners; Bond; Race Capital | $400M | $8B | FTX US, the U.S. affiliate of the cryptocurrency exchange FTX, raised $400 million in its Series A funding round on January 26, 2022, at an $8 billion valuation. Investors included Lightspeed Venture Partners, SoftBank Vision Fund 2, Multicoin Capital, Paradigm, Steadview Capital, Temasek, NEA, Tribe Capital, Ontario Teachers’ Pension Plan Board, Greenoaks Capital, and others, with Multicoin Capital, Paradigm, SoftBank Group, and Temasek as leads. The Chicago-based exchange, launched in 2020, competed with Coinbase and Binance, achieving rapid growth in 2021 with average daily volume of $360 million in Q3 and over 1 million users. In October 2021, FTX US acquired LedgerX, a regulated cryptocurrency derivatives exchange, and rebranded it as FTX US Derivatives, enabling offerings of crypto derivatives for retail and institutional investors. The funding was intended to accelerate growth, expand U.S. presence, ensure regulatory compliance, pursue strategic investments and acquisitions, launch new business lines including cryptocurrency futures and options for retail traders in 2022, and intensify derivatives efforts. The NFT marketplace and partnerships like NBA star Stephen Curry as ambassador boosted traffic and customer acquisition. FTX US aimed to become a universal platform for cryptocurrencies and traditional financial instruments, with reports in January 2022 of exploring stock trading additions. This round valued FTX US at $8 billion separately from the parent FTX Trading's $32 billion Series C, combining to surpass Coinbase's market cap at the time. Competition included Coinbase's acquisition of FairX for U.S. derivatives. |
Who has invested in FTX US?
12 investors have backed FTX US across its funding rounds, including Lightspeed Venture Partners, New Enterprise Associates, SoftBank Group, Temasek, Tribe Capital and Greenoaks.
Lead investors include Multicoin Capital, Paradigm, SoftBank Group and Temasek.
FTX US Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Lead | Jan 2022 | ||
This data is available for Pro users. Sign up to see all 12 FTX US investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by FTX US
FTX US has acquired 2 companies to date.
Last acquisition by FTX US was on June 21st 2022. FTX US acquired Embed Financial Technologies for $220M.
Latest Acquisitions by FTX US
| Description | Embed Financial Technologies is a U.S.-based fintech providing APIs for securities execution, clearing, settlement, and custody. The platform serves broker-dealers, RIAs, banks, and trust companies with modern infrastructure for compliant trading workflows. | LedgerPrime is a quantitative investment firm specializing in digital assets. It employs data-centric strategies and systematic trading models to deliver risk-adjusted returns across cryptocurrencies and blockchain markets. The New York-headquartered firm pursues rapid technological innovation in algorithmic trading and market-making. LedgerPrime serves institutional clients through prime brokerage services and proprietary funds focused on DeFi and token ecosystems. |
| HQ Country | ||
| HQ City | - | Miami, FL |
| Deal Date | 21 Jun 2022 | 1 Aug 2021 |
| Valuation | $220M | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all FTX US acquisitions and their M&A valuation multiples. Start Free Trial | ||
FTX US Competitors
FTX US competitors include listed companies like Goobit Group, Safello Group, Prairie Operating Co. and Crypto Blockchain Industries, and private ones like Ivision Market and Latte Investing.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $10M | ($599K) | $943K | - | ||
| Publicly listed | $82M | ($1M) | $6M | - | ||
| Publicly listed | $242M | $130M | $46M | 1.6x | ||
| Publicly listed | $4M | ($9M) | $45M | - | ||
| Private | - | - | $1M | - | ||
| -- | Private | - | - | $1M | - |
FTX US Public Comps
FTX US is still privately-owned, but its public comps include Genesis Holdings, Waste Energy, Goobit Group, Valuno Group, AGM Group Holdings, SYNERGA.fund, Coinix and Arax Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | - | - | - | - | - | |||
| $424K | ($596K) | 4.4x | - | (3.1x) | - | |||
| $10M | ($599K) | 0.1x | - | (1.2x) | - | |||
| $69M | ($7M) | 0.0x | - | (0.3x) | - | |||
| $31M | $4M | 0.1x | - | 1.3x | - | |||
| $4K | ($345K) | 811.3x | - | (9.3x) | - | |||
This data is available for Pro users. Sign up to see all FTX US competitors and their valuation data. Start Free Trial | ||||||||
Common questions about FTX US
| When was FTX US founded? | FTX US was founded in 2020. |
| Where is FTX US headquartered? | FTX US is headquartered in Santa Barbara, CA, United States. |
| Is FTX US publicly listed? | No, FTX US is a private, VC-backed company. |
| What is FTX US's valuation? | FTX US was last valued at - in its secondary sale in November 2022. |
| How much funding has FTX US raised? | FTX US has raised $400M across 1 funding round. |
| What was FTX US's last funding round? | FTX US's last funding round was a $400M Series A in January 2022, led by Multicoin Capital, Paradigm, SoftBank Group and Temasek. |
| Who are FTX US's investors? | FTX US's investors include Temasek, Greenoaks, SoftBank Group, New Enterprise Associates, Ontario Teachers' Pension Plan, Multicoin Capital, Steadview Capital, Tribe Capital, Lightspeed Venture Partners, Paradigm and 2 others. |
| Which companies are comparable to FTX US? | Companies comparable to FTX US include Goobit Group, Safello Group, Prairie Operating Co., Crypto Blockchain Industries, Ivision Market and Latte Investing. |
| How many companies has FTX US acquired? | FTX US has acquired 2 companies, including Embed Financial Technologies and LedgerPrime. |
| What was the largest acquisition by FTX US? | The $220M acquisition of Embed Financial Technologies in June 2022 is the largest acquisition FTX US has made to date. |
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