FalconX Raises $50M from Tiger Global and B Capital Group
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FalconX, an institutional-focused cryptocurrency exchange supported by American Express Co.’s venture arm, has raised $50 million from Tiger Global and B Capital Group, Bloomberg reports.

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The California-based cryptocurrency startup raised its net revenue by 46 times and the company is now reportedly valued at $675 million. The exchange processes approximately $6 billion in volume a month and attracted capital from Coinbase Ventures, Accel, Accomplice, Lightspeed and Avon Ventures, a venture capital fund with ties to FMR LLC, the parent company of Fidelity Investments.

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Scott Shleifer, partner at Tiger Global, claims FalconX is "positioned" to be an industry leader in the institutional cryptocurrency market.

iHodl earlier reported that BlockFi, a non-bank cryptocurrency lender, raised $350 million in a Series D fundraising round that values it at $3 billion. The company attracted capital from Bain Capital Ventures, partners of DST Global, Pomp Investments and Tiger Global.

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