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Crypto company “FTX” launches an investment fund worth 2 billion dollars

Crypto company “FTX” launches an investment fund worth 2 billion dollars

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Answer Crypto company “FTX” launches an investment fund worth 2 billion dollars

The American digital currency trading platform “FTX” aims to allocate investments in crypto projects starting from $100,000 to hundreds of millions of dollars in some blockchain and crypto projects through a new initiative and fund called “FTX Ventures.”

published The Wall Street Journal first reported the news yesterday, January 14, noting that the FTX Ventures Fund will be one of the largest in the cryptocurrency space.

Coverage was informed that the entire $2 billion in funding came from the company’s founder and CEO, Sam Bankman Fred.

FTX Ventures plans to invest in emerging crypto protocols where funding can start at $100,000 and can run into hundreds of millions.

Read:The most famous scams targeting cryptocurrency investors on Twitter

Amy Wu, formerly of Lightspeed Venture Partners, will lead the initiative and the new fund.

She indicated that the fund could publish all investments by 2023, depending on the opportunities it sees in the market.

Wu identified crypto-gaming companies, as well as NFT protocols, and insurance and security products, as being particularly interesting.

With the launch of FTX Ventures, the US company joined forces with Binance and Coinbase with customized products designed to invest in new ventures.

FTX has seen impressive growth in the recent period, including a 500% increase in trading volume in the third quarter of 2021.

On the other hand, notable names such as “Steve Curry” of the NBA and “Tom Brady” of the NFL have joined the company as ambassadors.

Earlier yesterday we published an article in Bitcoin Arab about FTX’s intention to offer stock trading services in the United States soon.

Read:YouTube deletes a group of crypto videos without warning

Read also:

The mayor of Rio de Janeiro invests and allocates 1% of the city’s treasury in bitcoin

Report: Chinese Law Enforcement Agencies Seize $1.7 Billion Cryptocurrency


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