Cryptocurrency company FalconX is currently looking for acquisition opportunities after reaching a historic high in revenue in the second quarter

On October 7th, it was reported that FalconX, a digital asset trading and brokerage company, is looking for acquisition opportunities to cope with a series of expected transactions in the industry. Raghu Yarlagadda, co-founder and CEO of FalconX, stated in an interview that as more institutional players enter the market and regulations become stricter, the cost of cryptocurrency business will rise, which in turn will trigger a "wave of consolidation" in 2025. Yarlagadda added, "Currently, we are actively exploring potential acquisition opportunities and evaluating related industries and key participants."

 

A spokesperson for FalconX stated that the company has seen a significant increase in potential acquisition opportunities. They added that FalconX is seeking to acquire high-quality small companies focused on institutional infrastructure, data and analytics, tokenization, and expanding its trading team by 2025. "FalconX's second-quarter revenue hit a historic high, growing 2.5 times compared to the same period last year. The company spokesperson stated that derivative trading revenue increased nearly threefold. However, they refused to disclose specific numbers.

 

FalconX was founded in 2018 and is headquartered in San Mateo, California. Its valuation reached $8 billion in a round of $150 million financing in 2022. According to its website, the company has received support from investors including Tiger Global, GIC, and B Capital, and has over 600 institutional clients.