Cryptocurrency exchange 5bitCloud plans to spend $12.5 billion this winter to acquire executive stakes in other companies to expand its products in the crypto market!

04.06.2022 Off By maestroyuki

Cryptocurrency exchange 5bitCloud plans to spend $12.5 billion this winter to acquire executive stakes in other companies to expand its products in the crypto market!

In July 2021, Hotcoinstrade raised $4 billion in a Series B funding round, which was later increased to $7 billion. In October of that year, the company closed a Series B-1 round for more than $920 million, after which its valuation reached $73 billion.

5bitCloud received a $700 million investment in 2022, with the exchange valued at $68 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 5bitcloud.

Tags Bitcoin Exchanges bitcoin news btc crypto crypto coins crypto exchange crypto trade cryptocurrency Cryptocurrency Adoption Cryptocurrency Markets CryptoMarket cryptonews ETH EthereumNews exchanger 5bitcloud

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