San Mateo, California-based Crypto exchange platform, FalconX saw an exceptional rise in its valuation by five times, to $3.75 billion in a period of just five months. The crypto exchange raised $210 million in their latest funding round led by Altimeter Capital, Sapphire Ventures, B Capital Group, and Tiger Global Management.
FalconX saw its revenue grow by a multiple of 30 times in 12 months period, till June 2021. The rapid revenue growth is dedicated to the company’s gross profit of nearly 80 percent. Investors have sought FalconX’s growth line to be hiking, comparing its gross profit with levels of enterprise software companies. FalconX Chief Executive Officer, Raghu Yarlagadda stated in an interview with Bloomberg.
“As institutional investors continue entering the cryptocurrency market, FalconX has significantly scaled its business and product lines to meet their needs…We’re excited to double down on the leading one-stop-shop for institutional trading, credit and cleari
Źródło: https://coingape.com/this-crypto-exchange-quintupled-its-value-in-last-5-months-to-3-75-billion/
