FTX Launches Blockchain and Web3 Funds

Cryptocurrency derivatives exchange FTX has announced FTX Ventures, a $2 billion venture capital fund focused on building the world's best-performing digital assets in the digital ecosystem, the company said.

He is looking to invest in various businesses and ventures, and says the team will provide financial trading and support strategies.

The main objective of the mission is to drive the global adoption of blockchain and Web3 by investing heavily in social networks, games, financial technologies, software and medical devices.

FTX Ventures will be led by crypto investor Amy Wu specially hired for this role and for gaming, mergers and acquisitions and marketing. He is also a partner at Lightspeed Venture Partners, a multi-tiered venture capital firm for crypto and gambling, including investments in FTX.

Per Wu said, “By working with FTX Ventures, we want to encourage entrepreneurs to build different businesses. We are especially proud of Web3 games and their ability to bring people significant visits to the ecosystem.”

In July, FTX was worth almost 20 times the largest investment in the cryptocurrency industry. Exchange operator FTX Trading Ltd closed the $900 million Series B funding round and invested $18 billion in the company from more than 60 investors.