Crypto Exchange FTX Launches B Fund With Special Interest In Gaming
Crypto derivatives exchange FTX announced it has created a $2 billion fund to invest in crypto-industry startups.
Initially reported by the Wall Street Journal, citing Amy Wu, the Head of the fund later confirmed the news herself on Twitter.
1/ Sharing a life update! I’m thrilled to join @FTX_Official to lead FTX Ventures, gaming, and commercial initiatives reporting to @SBF_FTX, in the company’s next chapter as a leading global financial services and web3 company.https://t.co/02uSg9e7g1
— Amy Wu (@amytongwu) January 14, 2022
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The new fund, FTX Ventures instantly becomes one of the industry’s largest funds, with the full funding coming from FTX and its founder, Sam Bankman-Fried.
FTX Ventures is considering making investments in the range of $100,000 up to hundreds of millions of dollars, depending on the opportunities that show up in the market.
Wu disclosed that the fund has a particular interest in crypto gaming companies, in addition to insurance and security products.
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Source: igaming
