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2022-01-14 14:45:22

FTX Trading forms $2B venture fund for crypto startups - WSJ

Cryptocurrency exchange FTX Trading launches a $2B venture fund to focus on digital asset startups, the company told the Wall Street Journal. FTX Ventures' investments in these startups could range from as little as $100K to hundreds of millions of dollars, Amy Wu, the fund's chief, told the WSJ. "We could possibly deploy it all [by] next year but it depends on the opportunities we see in the market," she adds. Recall FTX was recently valued at $25B after raising $420M through a funding round. Amy Wu, who will also head FTX's mergers and acquisitions, partnerships and gaming initiatives, is keen on investing in crypto gaming companies, in addition to security and insurance products for crypto through FTX Ventures, she told the WSJ. FTX Ventures joins a raft of other crypto funds, including Coinbase Ventures (NASDAQ:COIN), and Binance Labs, part of crypto exchange Binance, which said in 2018 it would invest

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