29-year-old billionaire's crypto exchange business valued at $18 billion


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On Tuesday, FTX, the crypto exchange established by Sam Bankman-Fried, said that it had secured $900 million in series B funding, valuing the company at $18 billion. Masayoshi Son's SoftBank, Paul Tudor Jones, and Sequoia Capital were among the high-profile investors in the round. Bankman-Fried was the "ideal founder" for FTX, according to Alfred Lin, a partner at Sequoia Capital. Everyone has high hopes for FTX.