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Crypto platform FalconX valued at $8 billion in new funding round

Channel News Asia LogoChannel News Asia1w ago

Crypto platform FalconX valued at $8 billion in new funding round

Quick Summary

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 a the recent slump in crypto markets.

Over the weekend, the world's biggest cryptocurrency, bitcoin, dropped below the key $20,000 level for the first time since December 2020.

"The big theme as we spoke with these investors is the flight to value because investors are no longer looking at growth and cost," he said.


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Crypto platform FalconX valued at $8 billion in new funding round - Channel News Asia (Picture 1)Crypto platform FalconX valued at $8 billion in new funding round - Channel News Asia (Picture 2)

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Article Details

Category: Business

Topics: Months Capital Investors Falconx Thoma Company Yarlagadda Funding Mediacorp Market Environment

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

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: 410 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 3436

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About Channel News Asia

Main Topics: Business

Official Website: channelnewsasia.com

Update Frequency: 16 posts per day

Year Established: 1999

Headquarters: Singapore

Last Updated: 29m ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Languages Covered: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

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