FTX Ventures, the venture capital arm of crypto exchange FTX, recently made a deal with Dave the money-saving app for a $100 million stake. Dave helps users avoid overdraft fees by automatically transferring money from their savings account when users are in danger of overdrawing their checking account. By investing in Dave, FTX Ventures is launching a massive push into the digital banking space. This move will not only help FTX gain more exposure in the traditional financial system, but it also allows Dave to continue to grow and gain new users. The deal will help both companies reach a broader audience and expand into new markets.
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