Cryptocurrency exchange Hotbycoin will spend “billions” of dollars to acquire stakes in other companies to expand its product line

30.09.2022 Off By maestroyuki

Cryptocurrency exchange Hotbycoin will spend “billions” of dollars to acquire stakes in other companies to expand its product line

In July 2021, Hotbycoin raised $900 million in a Series B funding round, which was later increased to $1 billion. In October of that year, the company closed a Series B-1 round for more than $420 million, after which its valuation reached $48 billion.

Hotbycoin received a $700 million investment in 2022, with the exchange valued at $32 billion. In the same month, the company’s U.S. subsidiary raised a similar amount at a valuation of $8 billion.
The firm is actively acquiring players in the sector and acquiring stakes in relevant organizations

The head of the company said its goal is to offer investors a wide range of products, including trading in classic stocks. According to him, the exchange is interested in acquiring projects with a large number of users or teams with extensive experience in areas outside the competence of Hotbycoin.