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Usha Yadav
Jun 22, 2022
by Usha Yadav

FalconX has Raised $150 million in Series D Led by GIC and B Capital

FalconX

Table of contents

  1. Falcon is Hiring
  2. Onboard Clients of FalconX
A $150 million Series D, led by the Swiss investment company B Capital and the Singaporean sovereign wealth fund GIC, has been closed by the digital assets platform FalconX. While many cryptocurrency startups find it challenging to secure new funding, FalconX has more than quadrupled its valuation through this round, which was announced today in a statement, from $3.75 billion to $8 billion.

Requests for clarification regarding the precise closing date of the investment round received no response from a FalconX spokesman. Institutional investors access cryptocurrency strategies through the FalconX platform through a single interface. Additionally, it provides a solution to help banks and fintech companies sell cryptocurrency products.

Falcon is Hiring

The agreement comes as FalconX prepares to hire 55 new staff, or a 30 percent headcount expansion, over the next few months. It plans to increase its offerings to institutions, including trade execution, credit, and prime brokerage, by investing in acquisitions, technology, and data analytics.

Yarlagadda said, "Over the next 12 to 18 months, we do expect a very volatile market. And, given that volatility, we see very strong opportunities for acquisitions."

Onboard Clients of FalconX

FalconX enjoyed the strongest client onboarding in its history in the first quarter of the year, contributing to its privileged position in the cryptocurrency industry. Despite the current market volatility, it claims there is still a significant demand for its services from a range of institutional clients. As a result of investors selling riskier assets amid rising interest rates and recession fears, cryptocurrency valuations have fallen precipitously in recent weeks. The most popular cryptocurrency in the world, bitcoin, fell below the crucial $20,000 mark over the weekend for the first time since December 2020. Without providing additional information, Yarlagadda claimed the platform is already profitable and has attracted a record number of users.

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FalconX GIC B Capital
FalconX has Raised $150 million in Series D Led by GIC and B Capital
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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