Tech

Cryptocurrency trading platform FalconX received a $ 50 million investment

Cryptocurrency trading platform backed by companies like American Express, Coinbase Ventures FalconX, Bloomberg since you shared Tiger Global Y B Capital Groupsince Investment of 50 million dollars I took. However, let us remind you that this investment is currently unofficial and information is received from people close to the subject.

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Based in San Mateo, California FalconX’s valuation has reached approximately $ 675 million with the new investment. also among the rumors. The new investment came after the investment made by American Express’ venture division in December. Current FalconX investors include companies such as Accel, Coinbase Ventures, Accomplice, Lightspeed, and FMR LLC, which is the parent company of Fidelity Investments and Avon Ventures.

Krishna Yarlagadda, Prabhakar Reddy, Raghu Yarlagadda Launched in 2018, FalconX offers an all-in-one solution for cryptocurrency trading, and the platform’s technology currently enables hundreds of institutions to exchange billions of dollars in cryptocurrency trading operations, loans, and exchange transactions.

FalconX defines itself as a digital asset trading platform that provides fast and reliable implementation using data science to eliminate hidden fees. FalconX has offices in the US, India and Malta. The platform serves more than 250 corporate clients.

Company according to Crunchbase dataHe received a total investment of $ 67 million with the new investment. It is not yet clear what FalconX will use for the new investment, as companies currently avoid making statements on the subject. Claiming that its revenue increased by 350 percent after investing $ 17 million in May, the platform has not yet disclosed the data for the latest period.

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