TSM sponsor FTX raise $420m from 69 investors TSM FTXFTX, a crypto exchange that serves as the naming sponsor of North American esports organization TSM, has raised $420m in funding from 69 investors. To be precise, they raised $420,690,000. Nice. FTX have made waves in very little time across sports and esports \u2014 sponsoring the likes of esports org TSM, the LCS, Mercedes\u2019 Formula 1 team, and Major League Baseball (MLB) \u2014 in part due to the astronomical growth of crypto over the past couple of years. The crypto exchange raised $900m in July 2021 and were subsequently valued at an eye-watering $18b. Now, they\u2019ve raised an additional $420,690,000 in investment capital as part of a Series B funding round. It\u2019s clear that FTX are happy to lean into internet culture and memes, much like technology entrepreneur Elon Musk, even in such an important deal, as it\u2019s no accident that they\u2019ve accepted the funding from exactly 69 investors. They made a name for themselves in esports back in June 2021 through a 10-year naming sponsorship with TSM that\u2019s worth $210m. The org are now known as TSM FTX and the deal is believed to be the biggest the industry has seen to date. FTX expanded their footprint in competitive gaming shortly after by sponsoring the LCS, North America\u2019s premier League of Legends esports competition, in a seven-year agreement. As with the previous investment in July, the newly raised money will allow the crypto exchange to continue with their plans for aggressive plans, presumable sponsoring more companies they see as a sound fit for their company, and to \u201cexpand into new jurisdictions.\u201d They’re in: @TomBrady, @GiseleOfficial, @StephenCurry30, @Trevorlawrencee, @mlb, @kevinolearytv, @LCSOfficial, @MiamiHEAT, @riotgames, and @TSM You in? pic.twitter.com\/d9LBF1O3hb \u2014 FTX (@FTX_Official) September 10, 2021 \u201cFTX is forging the way to create a modern financial system,\u201d said ICONIQ founding partner Divesh Makan, one of the 69 investors. \u201cWe admire Sam and the FTX team\u2019s laser focus on product and user experience which we believe has been core to FTX\u2019s success as a leading global crypto exchange. \u201cWe are thrilled to partner with them as they leverage their underlying infrastructure to expand into broader financial services and become the exchange of everything.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
TSM sponsor FTX raise $420m from 69 investors TSM FTXFTX, a crypto exchange that serves as the naming sponsor of North American esports organization TSM, has raised $420m in funding from 69 investors. To be precise, they raised $420,690,000. Nice. FTX have made waves in very little time across sports and esports \u2014 sponsoring the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21999","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/21999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/comments?post=21999"}],"version-history":[{"count":0,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/21999\/revisions"}],"wp:attachment":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/media?parent=21999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/categories?post=21999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/tags?post=21999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}