FTX has invested in many projects through its FTX Ventures arm, contributing to two of the 10 biggest blockchain and crypto funding rounds in the industry. Here are the top five investments FTX has been involved in.
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1. Yuga Labs
FTX contributed to the US$450 million seed investment into Yuga Labs, the creators of the Bored Ape Yacht Club NFT series. Other investors in the March 2022 round included Amioca Brands, Tiger Global, and Snoop Dogg.
2. Circle
Circle – Coinbase partner and principal developer of the USDC stablecoin – concluded a US$440 million funding round in May 2021, then the biggest in crypto history. Shortly before the funding round closed, FTX and Circle announced a partnership to provide payments and treasury infrastructure for internet businesses. In addition to FTX Ventures, BlackRock, Breyer Capital, and Atlas Merchant Capital also invested.
3. SkyBridge
In September, FTX Ventures acquired a 30% stake in SkyBridge Capital, the investment firm founded by former White House communications director Anthony Scaramucci who lasted just 11 days in his role. The acquisition’s value was not disclosed. The firm planned to use a portion of the investment to purchase US$40 million in cryptocurrencies as a long term investment.
4. Near Protocol
FTX Ventures contributed to a US$350 million funding round led by Tiger Global for Near Protocol, a smart-contract enabled by layer 1 blockchain. After Bitcoin and Ether, Near’s native cryptocurrency NEAR was the third most commonly held token among venture capital firms and hedge funds in the fourth quarter of 2022, according to Messari.
5. Mysten Labs
The firm behind the proof-of-stake layer 1 blockchain Sui, Mysten Labs, raised US$300 million in a funding round led by FTX Ventures. Founded by former Meta executives, the blockchain firm which also received investments from Coinbase Ventures and Binance Labs, subsequently being valued at over US$2 billion.
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