Chase Coleman's Tiger Global Management invested in the FTX crypto exchange at a $32 billion valuation.The hedge fund headed by billionaireOn Tuesday, Binance CEO Changpeng Zhaothat his firm was buying FTX’s non-U.S. businesses to rescue it from what he said was a “significant liquidity crunch.” According to Zhao, commonly known as CZ, the two firms signed a non-binding letter of intent, subject to Binance conducting due diligence over the coming days.
Tiger was part of a group of investors in FTX’s January Series C round that valued the company at $32 billion. It previously also participated in a Series B round that valued FTX at $25 billion. During that raise, FTX took a page out of Elon Musk’s playbook by raising exactly $420.69 million.On Monday, the Financial Times reported that Tiger’s flagship hedge fund was downAnother Tiger fund, which includes public equities and private equity investments, was said to be down 44%.
Other prominent investors in FTX’s latest rounds include SoftBank, Sequoia Capital, Ribbit Capital, BlackRock, Temasek Holdings, and the Ontario Teachers’ Pension Plan Board.
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