--- title: "Who invested in FTX Trading Ltd." language: en canonical: https://dossiertwist.com/dossiers/ftx-trading-ltd/investors/ as_of: 2026-10-21 keywords: ["FTX Trading Ltd","FTX.com","FTX Trading Limited","Sam Bankman-Fried","Alameda Research","Paper Bird Inc.","Dotcom Silo","FTX Digital Markets","FTX Europe AG","FTX EU Ltd","FTX Japan","West Realm Shires","FTT","Chapter 11","FTX Recovery Trust","John J. Ray III","Caroline Ellison","Gary Wang","Nishad Singh","CFTC consent order"] --- # Who invested in FTX Trading Ltd. **Question.** Who invested in FTX Trading Ltd., how much did it raise, and what happened to Binance's stake? **Answer.** The SEC states that FTX Trading Ltd. raised at least $1.8 billion from equity investors between 2019 and January 2022, about $1.1 billion of it from some 90 investors in the United States. The equity holder list filed in January 2023 names funds linked to Temasek, Paradigm, SoftBank, Thoma Bravo, Tiger Global, Third Point, Sequoia and the Ontario Teachers' Pension Plan among the holders. Binance, an early investor in FTX, exited its stake for roughly $2.1 billion in cash equivalents (BUSD and FTT), according to its chief executive; the sources do not name the FTX company that bought the stake or the date. ## Funding rounds - Analysis: The SEC's complaint against Caroline Ellison and Gary Wang (21 December 2022) states that FTX Trading Ltd. raised at least $1.8 billion from equity investors: about $8 million of Series A preferred stock (completed around August 2019), about $1 billion of Series B preferred (around July 2021), about $420 million of Series B-1 (around October 2021) and about $500 million of Series C (around January 2022); about $1.1 billion came from roughly 90 investors based in the United States. FTX Trading's own Form D of 2 November 2021 reported an offering under Rule 506(b) with a first sale on 18 October 2021, a total of $415,341,812, all sold, and 85 investors. [src-023] [src-002] - Analysis: The debtors' first-day presentation charts the group's financing from November 2019 to January 2022: a Series A in which Binance entered a strategic partnership and invested, followed by Binance's divestment of its whole stake; a Series B of $1 billion (investors including Sequoia, Paradigm and Thoma Bravo); a Series B-1 of $420 million (including the Ontario Teachers' pension plan, Tiger Global and BlackRock); a Series C of $500 million (including Paradigm, SoftBank and Temasek); and a separate $400 million Series A (including Multicoin, Paradigm and Sequoia). The chart's text does not show which rounds belonged to FTX Trading Ltd. and which to West Realm Shires Inc.; the $1 billion, $420 million and $500 million rounds match those the SEC attributes to FTX Trading Ltd. [src-012] ## Binance's exit - Analysis: The same presentation quotes Binance's chief executive as saying that, on leaving FTX's equity, Binance received roughly $2.1 billion in cash equivalents, in BUSD and FTT. The SEC's complaint adds that on 6 November 2022 Binance held FTT then worth more than $500 million that it had received from FTX when Bankman-Fried bought out its stake as an early-round investor. Neither source names the FTX company that bought the stake or the date of the buyout. [src-012] [src-023] ## The holders on record in January 2023 - Analysis: FTX Trading Ltd.'s equity holder list, filed on 9 January 2023, includes Artz Fund Investments Pte Ltd. of Singapore (contact at a Temasek address) with 1,526,228 common, 3,815,337 Series B and 381,557 Series B-1 preferred shares; Paradigm Green Fortitudo LP and Paradigm One LP with Series B and C preferred shares; SVF II Tempest (DE) LLC, with SoftBank contacts, with 2,861,504 Series B and 215,741 Series C preferred shares; two Thoma Bravo growth funds with 4,578,406 Series B preferred shares between them; Tiger Global PIP 15 LLC; Third Point Ventures LLC, as nominee for funds advised by Third Point, with 431,482 Series C preferred shares; SCGE Fund, L.P. (Sequoia contact) and Sequoia Capital Global Growth Fund III - Endurance Partners; and 2873313 Ontario Limited, with Ontario Teachers' Pension Plan contacts, with 2,233,504 common and 558,376 Series B-1 preferred shares. Nishad Singh is listed with 44,000,000 common shares. [src-006] - Analysis: The holder lists also show a SkyBridge fund, SkyBridge Multi-Adviser Hedge Fund Portfolios LLC – Series G, with 244,196 common and 61,049 Series B-1 preferred shares of FTX Trading Ltd. and 1,310,000 Class A common shares of West Realm Shires Inc. The fund is a separate entity from SkyBridge Capital II, LLC, which is discussed on the Chapter 11 page, and the lists do not show when or at what price the shares were bought. West Realm Shires Inc.'s own list shows Bankman-Fried with 791,303,000 Class A and 1,116,389,000 Class B common and 109,409,190 Series A preferred shares, Wang with 247,545,000 Class A and 356,624,000 Class B common shares, Ryan Salame with 5,520,000 Class A common shares and the Temasek-linked Artz Fund with Class A common and Series A preferred shares. [src-006] ## Sources - [src-023] Complaint, SEC v. Caroline Ellison and Zixiao "Gary" Wang, No. 1:22-cv-10794 (S.D.N.Y.), U.S. Securities and Exchange Commission, 2022-12-21 - [src-002] FTX Trading Ltd. Form D notice of exempt offering of securities, U.S. Securities and Exchange Commission, 2021-11-02 - [src-012] Court record source · src-012 - [src-006] Court record source · src-006