Regardless of the ongoing bearish trend in cryptocurrency markets, investment capital firms continue flowing capital into major industry players like FalconX.
FalconX, the institutional-level digital asset platform and crypto brokerage, has elevated $150 million in fresh funding included in its Series D financing round.
Finished in early June, the funding round values FalconX at $8 billion, greater than doubling from the previous Series C-round valuation of $3.75 billion in August 2021, the firm announced to Cointelegraph on Wednesday. The firm has elevated greater than $430 million as a whole.
FalconX’s latest investment round was brought through the Singaporean sovereign wealth fund GIC and Facebook’s Eduardo Saverin-backed B Capital Group. Other investors incorporated prominent industry investors and VC firms like Tiger Global Management, Adams Street and Thoma Bravo.
The brand new funding round can help FalconX enable untouched markets because of its institutional customers in addition to provide new items, Chief executive officer Raghu Yarlagadda told Cointelegraph. “The investment will let us further accelerate growth by searching at M&A possibilities that add proper value to the existing core choices. Similarly, we’re searching to include best-in-class talent,” Yarlagadda added.
FalconX Chief executive officer also noted the current bear market didn’t impact the organization, stating:
“FalconX has already established no material exposure within this market due to our robust risk management program. We’re financially strong and growing because there exists a market-risk neutral business design.”
Yarlagadda wend onto state that FalconX’s credit choices are “over-collateralized,” supported by liquid collateral and “all assets are deployed only inside the FalconX platform.”
“This enables us to possess a strong real-time look at risk management and mitigate risk. During these market conditions, we have a tendency to see more activity in market-neutral strategies than directional,” the Chief executive officer noted. Also, he added that FalconX has ongoing to determine strong client development in place and derivatives markets.
Related: Despite bearish trend, hedge money is dipping their toes in crypto: PwC
The funding round comes soon after FalconX grew to become among the first crypto swap dealers registered using the U . s . States National Futures Association in April 2022. The firm also grew to become among the first crypto-focused Primary Level People from the Worldwide Swaps and Derivatives Association.
