The cryptocurrency trading platform eToro has agreed to a $120 million secondary equity sale

ChainCatcher news, the cryptocurrency trading platform eToro has agreed to a $120 million secondary equity sale, which will value the company slightly below the $3.5 billion it achieved in a funding round earlier this year. The sellers of this secondary sale are existing shareholders and early employees who have exercised options. eToro stated that this provides an opportunity for them to gain liquidity on their equity.

ChainCatcher previously reported that after canceling its plans to go public via SPAC at a valuation of $10.4 billion in 2022, the stock and crypto investment platform eToro completed a $250 million funding round at a valuation of $3.5 billion, with participation from ION Group, Social Leverage, SoftBank, and Spark Capital.