Cryptocurrency exchange company FTX has raised more than $900 million after completing a B fundraising Wednesday. The deal valued the company at more than $18 billion.

The company said more than 60 investors participated in the funding round. Participants included SoftBank Group, Coinbase Ventures and Sequoia Capital. FTX's chief executive officer, Sam Bankman-Fried, said the funding round was organized by the company, which meant that there was no single lead investor.

"There are two main goals of the raise. One of them is just forming a lot of partnerships with people who we are really excited about and who we think can help grow our business and make a lot of connections for us. And the second piece is having more capital for M&A," Bankman-Fried said.

Bankman-Fried said the company plans to use the funds for private-market deals. In response to rumors about the company going public, Bankman-Fried said FTX was in no rush and it is still able to get access to sufficient capital through fundraisings.

"We're still trying to get ourselves in a position where we could go public relatively quickly if we wanted to. But that doesn't mean we think that now is the time to do it. Instead, we basically want to have that option if it does seem right, without having any immediate plans to actually take advantage of that," Bankman-Fried said.

Bankman-Fried said the company has been approached by sponsors of special-purpose actions companies or SPACs. He said the company is profitable and there is no urgency in jumping into any deals right now.

In April, cryptocurrency exchange company Coinbase launched its direct listing. The deal coincided with Bitcoin's high of nearly $65,000 per coin. Bullish - a company that plans to launch its own cryptocurrency exchange - said it plans to merge with a SPAC to go public. Stablecoin issuer AND Circle also announced plans of going public through a $4.5 billion SPAC deal.

Significant cryptocurrency players are trading well below their mid-April highs. Bitcoin is now trading at less than half of its record price. As of Wednesday, Bitcoin is trading at around $31,588.36 per coin, 1.91% down from the day before. Ethereum is now trading at around $1,880.55 per coin, 4.98% down from Tuesday.