Crypto exchange FTX hits $32B valuations despite bear market fears: CNBC

The current bearish phase of the market is temporary, and proof of this is the burgeoning Cryptocurrency exchange FTX hitting a $32 billion valuation. 

FTX saw its valuation surge to $32 billion in a new funding round announced Monday. 

According to a CNBC report, Monday, the company said that it raised $400 million in a Series C financing round — its third in the last nine months.

Sam Bankman-Fried, FTX’s CEO and co-founder, told CNBC in an interview, “I think we’re not entering a long-term crypto winter,”  “There have been changes in expectations of interest rates, and that’s been moving crypto markets. But it’s been moving markets more generally as well.”