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FalconX CEO: New Funds will Help Attract Multi-Billion Dollar Hedge Funds

Amy Liu

Summary: After raising $50 million at a valuation near $700 million, crypto brokerage and trading startup FalconX is preparing to expand its customer base of deep-pocketed hedge funds. The company’s CEO Raghu Yarlagadda said that the new funds will enable the company to expand its sales and marketing team to attract hedge funds that boast assets ...

After raising $50 million at a valuation near $700 million, crypto brokerage and trading startup FalconX is preparing to expand its customer base of deep-pocketed hedge funds. The company’s CEO Raghu Yarlagadda said that the new funds will enable the company to expand its sales and marketing team to attract hedge funds that boast assets in excess of $1 billion.

These types of firms have historically avoided the crypto market but have increasingly expanded their footprint in recent months. "We believe FalconX is positioned to be an industry leader in the institutional cryptocurrency market,” said Scott Shleifer, partner at Tiger Global.

By Amy Liu

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