The cryptocurrency trading platform, FalconX, has managed to bring its overall valuation to achieve a five times bonus is worth over the course of just five months.
FalconX, located in San Matteo, was already showing very impressive numbers for over a year, and the revenue that has been generated so far is calculated to be 30 times more than what was recorded in the previous year, as stated by the CEO, Mr. Raghu Yarlagadda. CEO Raghu did not show any interest in providing the exact facts and figures, but he did mention that the company’s monthly transaction volume from just the customers being taken into account had reached more than $10Billion.
Utilizing the power of FalconX, many funds and payment givers are taking advantage of the more genuine price rates provided by the platform. FalconX achieves this stable pricing because of its connections with more than a hundred venues, which include globally recognized crypto exchanges like, Coinbase and FTX and many more trading companies and OTC desks. CEO Raghu stated that FalconX does not use tactics like over-collateralizing loans or reserving liquidity rights in order to bring more recognition to the markets.
FalconX and Tiger Management
Scott Shleifer from Tiger Management stated about FalconX’s progress, that as more and more investors are getting indulged into the cryptocurrency space, FalconX has managed to mold its business strategies and products, according to the requirements of the investors, in order to achieve true connections, leading to many more opportunities. Tiger Management had played a big role in the success of FalconX when it managed to bring up around $50Million to buff the valuation of FalconX to about $675Million at the start of the year.
FalconX and Investors
Mr. Raghu also had some statements about investor activity, saying that many investors have managed to establish a sort of bond with FalconX because of its impressive growth rates. Major Investors like Coinbase Ventures, Lightspeed Ventures, and Avon Ventures have definitely contributed to the success of FalconX up till now. In addition to that, Mr. Raghu said that, with the new fundings coming in, it would help the company to scale up by giving opportunists to more skilled individuals and begin expansion in the Asian Continent. It is also planned that products based on customer requirements will also be looked into.