Crypto company “FTX” launches an investment fund worth 2 billion dollars

Through a new effort and fund dubbed "FTX Ventures," the American digital currency trading platform "FTX" wants to deploy investments in crypto projects ranging from $100,000 to hundreds of millions of dollars in some blockchain and crypto ventures.

The FTX Ventures Fund will be one of the largest in the cryptocurrency field, according to the Wall Street Journal, which first reported the news on January 14.

Sam Bankman Fred, the company's founder and CEO, provided the entire $2 billion in funding, according to coverage.

FTX Ventures intends to invest in new crypto protocols, with capital ranging from $100,000 to hundreds of millions of dollars.

The effort and the new fund will be led by Amy Wu, formerly of Lightspeed Venture Partners.

Depending on the opportunities the fund sees in the market, she said the fund could publish all of its investments by 2023.

Crypto-gaming companies, as well as NFT protocols, insurance, and security goods, were noted as being particularly intriguing by Wu.

The US corporation teamed up with Binance and Coinbase to develop "FTX Ventures," which offers bespoke products for investing in new ventures.

FTX has experienced phenomenal growth in recent years, including a 500 percent increase in trading volume in the third quarter of 2021.

On the other hand, well-known athletes such as NBA's "Steve Curry" and NFL's "Tom Brady" have joined the company as ambassadors.

We published an article in Bitcoin Arab yesterday detailing FTX's plans to offer stock trading services in the United States soon.