FalconX Doubles Valuation to $8 Billion Despite Crypto Downturn

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.