FalconX, a digital asset trading platform and brokerage for institutional investors, has doubled its valuation to $8 billion, despite a major market downturn for crypto.
The San Mateo, California-based startup said Wednesday that it had raised $150 million in a Series D funding from investors led by GIC and B Capital, a previous investor. Thoma Bravo, Adams Street Partners and previous investors Wellington Management and Tiger Global Management also participated. FalconX previously raised $210 million at a $3.75 billion valuation in August.
The company’s new funding arrives as a crypto winter chills the digital asset industry. Companies like Coinbase Global Inc., Gemini Trust Co. and Crypto.com have laid off staff. The price of Bitcoin has sunk about 30% over the