Crypto Exchange FTX Establishes $2B Fund to Invest in Crypto Startups: Report

Crypto derivatives trade FTX has arrange a $2 billion fund to put money into crypto-industry startups, the Wall Street Journal reported, citing Amy Wu, who heads the fund.

  • The FTX Ventures fund is without doubt one of the {industry}’s largest, the Journal stated.
  • Investments might be as little as $100,000 and as excessive as a whole bunch of hundreds of thousands of {dollars}.
  • In October, FTX raised $420.7 million and was valued at $25 billion.
  • Wu instructed the Journal she is especially thinking about crypto gaming firms, in addition to insurance coverage and safety merchandise.
  • FTX Ventures joins funds arrange by different crypto exchanges equivalent to Binance Labs and Coinbase Ventures, each of which have been in existence for a number of years.

UPDATE (Jan. 14, 13:05 UTC): Adds fifth bullet level.


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