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.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Forbes - 🏆 394. / 53 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »