FTX, a cryptocurrency exchange, raises $400M at a $32 billion valuation

FTX, a cryptocurrency exchange, has raised $400 million in funding from investors including SoftBank, valuing the platform at $32 billion, making it one of the most valuable start-ups in the rapidly developing digital currency sector.

Temasek Holdings of Singapore and the Ontario Teachers’ Pension Plan Board, among others, contributed to the capital round.

In the last six months, the company has raised a total of $1.8 billion.

Since its latest investment round in October, FTX has grown at a quick pace, according to the company.

Bahamas-based FTX is the owner and operator of FTX.com, a crypto platform that caters to a diverse customer base outside of the United States, including retail and institutional investors.

The company’s daily trade volumes have increased by 40% to almost $14 billion, making it the third-largest cryptocurrency exchange in the world.