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How FTX Collapsed: An Industry Insider's Take, Ep 220

The Blockcrunch Podcast

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FTX and Serum

In 2020 FTX was valued at 1.2 billion dollars already and in 2021 at 18 billion dollars. In 2022 they raised 400 million dollars at a whopping 32 billion dollar valuation. At that time in 2020 they were also starting a project called Serum which is a Solana based order book exchange. Now however it seemed like after the fundraise most of the developments basically stalled and no one was talking about them anymore. However with the help of large venture funds like Moutreco and Capital that finally kicked off the Solana DeFi season which led to Solana becoming one of the largest ecosystems in crypto.

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