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FTX brings out $2B Fund led by Lightspeed’s Partner Amy Wu

FTX brings out $2B Fund led by Lightspeed’s Partner Amy Wu

One of the largest crypto exchanges FTX brought out a $2B fund, led by Lightspeed's Amy Wu, for its venture capital unit FTX Ventures.

With FTX's recent success in the crypto industry, and ideas for global expansion, the crypto exchange announced that it will be opening its own venture capital branch. The venture capital firm is set to bring support for upcoming and established crypto start-ups.

According to the report by WSJ, Amy Wu, partner at Lightspeed Venture Partners, will be leading the $2B fund for Sam Bankman Fried’s company. The FTX Ventures fund was said to be one of the largest yet, and supported by big players in the crypto industry such as Binance Labs and Coinbase Ventures.

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After the initial tweet, confirming the partnership with FTX, Amy Wu told followers that she will be "leading the @FTX_Official gaming, M&A, and other web3 initiatives" while remaining a partner with Lightspeed.

Following its large sponsorship deal with the Super Bowl and the purchase of naming rights for the Miami Heat’s home stadium in 2021, FTX remains one of the fastest-growing crypto exchanges in the world.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
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