Today FTX.US announced a strategic investment in IEX, the fifth largest U.S.-based stock exchange operator after the NYSE, Nasdaq, CBOE and MemX, with the deal expected to close next month.
In January, FTX.US raised a $400 million Series A round at an $8 billion valuation. Its larger international affiliate FTX has raised $1.8 billion and was valued at $32 billion at the start of the year.
The two organizations plan to work together to create a market structure for trading digital asset securities. This isn’t the first investment by a crypto firm into a mainstream incumbent, but it is one of the higher profile examples and potentially a trend.
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