Crypto Exchange Bitmart in Talks to Raise $20M at $300M Valuation: Report

Crypto exchange Bitmart is in talks to raise about $20 million at a $300 million valuation in a funding round led by a backer of Spotify and Airbnb.

New York-based private equity firm Alexander Capital Ventures is in talks with BitMart to lead the Series B funding round, according to people familiar with the matter, Tech Crunch reported Tuesday.
BitMart, which has a 24-hour trading volume of over $1.5 billion according to CoinGecko, has raised a total of $10 million in previous funding rounds.
The exchange is registered in the Cayman Islands and has offices in New York, Singapore, Seoul and Hong Kong. At the end of September it said it would be clearing out all user accounts registered in mainland China by Nov. 30, after which it would cease providing services to any users there.
BitMart did not respond to CoinDesk’s request for comment.