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.
According to chief executive Raghu Yarlagadda, who previously worked as a lead product manager for Google, the fresh capital will allow 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.
