Crypto platform FalconX doubles valuation to $8 billion in new funding round

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NEW YORK : Digital assets platform FalconX was valued at $8 billion in a new funding round led by Singapore's sovereign wealth fund GIC and B Capital, more than doubling its valuation in 10 months, its chief executive and founder Raghu Yarlagadda told Reuters, despite the recent slump in crypto markets.

Although the fund raising started months ago, it went through a period of turmoil with the collapses of the TerraUSD and luna 'stablecoins.

Yarlagadda said the platform is already profitable and has reached record number of customers, without further disclosing details.Pressed for time?

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Category: Economy

Topics: Months Yarlagadda Mediacorp Environment Crypto Capital Falconx Company Raising Investors Funding

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 18:04:19

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 3 minutes read

Article Length: 449 words

Coverage Area: Singapore

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News ID: 3865

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