Cryptocurrency exchange Clywbit 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, Clywbit 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.
Clywbit 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 Clywbit.