FTX Ventures Made Investments In Yuga Labs, Circle, And SkyBridge Prior To Liquidity Issues
According to Cryptorank statistics, FTX Ventures has invested in well-known firms such as Bored Ape Yacht Club creator Yuga Labs, USDC stablecoin issuer Circle, and Layer 1 blockchain.Â
Near Protocol and Sui received two separate financing rounds, as did crypto lender BlockFi and the Aptos blockchain. The actual amount of FTX Ventures investments is unclear.
According to the source, the exchange platform also has tight links to the struggling BlockFi, with the U.S. branch giving a $400 million line of credit to the bank and FTX getting an option to purchase BlockFi for $240 million. In September, this Venture agreed to buy a 30% share in SkyBridge Capital for an unknown price, and SkyBridge would utilize some of the assets from FTX to make a $40 million crypto investment to keep its balance sheet intact.Â
Despite increases in global stock markets, the Tiger Global hedge fund, which invested in FTX’s $420 million Series B-1 in October, dropped 5.4 percent last month. The SoftBank Vision Fund, which made a $400 million investment in this platform in January, previously reported a $50 billion loss in the first six months of this year.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
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FTX Ventures Made Investments In Yuga Labs, Circle, And SkyBridge Prior To Liquidity Issues
According to Cryptorank statistics, FTX Ventures has invested in well-known firms such as Bored Ape Yacht Club creator Yuga Labs, USDC stablecoin issuer Circle, and Layer 1 blockchain.Â
Near Protocol and Sui received two separate financing rounds, as did crypto lender BlockFi and the Aptos blockchain. The actual amount of FTX Ventures investments is unclear.
According to the source, the exchange platform also has tight links to the struggling BlockFi, with the U.S. branch giving a $400 million line of credit to the bank and FTX getting an option to purchase BlockFi for $240 million. In September, this Venture agreed to buy a 30% share in SkyBridge Capital for an unknown price, and SkyBridge would utilize some of the assets from FTX to make a $40 million crypto investment to keep its balance sheet intact.Â
Despite increases in global stock markets, the Tiger Global hedge fund, which invested in FTX’s $420 million Series B-1 in October, dropped 5.4 percent last month. The SoftBank Vision Fund, which made a $400 million investment in this platform in January, previously reported a $50 billion loss in the first six months of this year.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Chubbi
CoinCu News
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