Co-founder, CEO @FalconXGlobal 🚀, Leading Digital Asset Prime Brokerage | Ex-@Google | Crypto Top 25 CEO | Helping shape a tokenized world 🌎

San Francisco, CA
.@FalconXGlobal is fully acquiring @21shares – a defining moment in the convergence of digital assets and traditional finance. 21shares is the world’s largest crypto-native ETF/ETP provider with over $11B in AUM and a track record of product innovation and operational excellence. FalconX has built the institutional backbone for trading, derivatives, and credit. Extending that infrastructure into listed markets through 21shares is a natural next step toward strengthening market efficiency and innovation. This marks FalconX’s third acquisition and largest to date, a major step in building global reach, diversified revenue streams, and durable enterprise value. A heartfelt thank you to @hany, @OpheliaBSnyder, Russell Barlow, and the entire 21shares team. We’re excited to advance what’s possible in digital asset investing. prnewswire.com/news-releases…
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1/5 Approval of a spot #Bitcoin ETF, which we expect to take place in late 2023 or early 2024, will be a pivotal moment in crypto. This will offer a gateway for large pools of capital such as financial advisors, who do not yet have a clear-cut vehicle to access crypto.
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It was great to sit down with @TrinityChavez to discuss FalconX, #crypto regulation, and the likelihood of a spot Bitcoin ETF. Thank you @NYSE for having me.
"Revolutionize access to the crypto markets" 💥 @falconxnetwork co-founder & CEO Raghu Yarlagadda dives into the world of cryptocurrency trading and digital asset aggregation with @TrinityChavez. #TSTC @2Ragu
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1/6 Announcing FalconX’s $150M #SeriesD from GIC, @BCapitalGroup, @thomabravo, @Wellington_Mgmt, Tiger Global Management & Adams Street Partners! This raise & our recent growth, despite market conditions, validates most of the world's value will be tokenized, including equities.
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1/ 🚀 Happy New Year! Kicking off 2025 with exciting news: @falconxnetwork has officially acquired @Arbelosxyz. A huge welcome to the Arbelos team! We're thrilled to have you onboard and look forward to building together. @joshua_j_lim @ShiliangTang Sergio
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Today, @falconxnetwork is proud to announce the integration of the @BlackRock USD Institutional Digital Liquidity Fund (#BUIDL) into our trading platform. But what exactly is BUIDL, and why is it a game-changer for the industry? Let's dive in 👇🧵 1/6
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I could barely hear Caroline’s question due to audio issues in the studio...To be clear: FalconX has balances locked on FTX like other large players - these funds are a relatively small part of our balance sheet. Onward to building great products. Thanks to @technology team.
1/ Our CEO @2Ragu spoke with @CarolineHydeTV and @EdLudlow from Bloomberg @technology to discuss our approach navigating the #FTX fallout. Watch Raghu’s interview here. bit.ly/3ACPIOD
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1/ FalconX has no exposure to Genesis. It's sad to see the industry (customers, partners, and competitors) in pain from FTX fallout... Trust is broken, and we need to rebuild differently. Is the new world order trustless in the centralized layer of Crypto?
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It's a privilege to be at the @WhiteHouse today for the GENIUS Act signing ceremony. What an incredible moment for everyone who believed in this vision. For everyone who has been building crypto companies in the US over the last decade through all the headwinds, this is not just a symbolic moment. It’s validation of our vision for a digital economy. This is the first comprehensive piece of legislation that enables stablecoins to go truly mainstream. That’s a catalyst for the rest of the world’s assets to also tokenize, unlocking new economic opportunities, empowering businesses and consumers to thrive in a digital-first economy. Proud of how far the industry has come, and excited for the US to continue leading the innovation of modern finance.
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1/ FalconX started in 2018. We’ve been through many cycles – yet this one is different, customers have been hurt, investor confidence took a hit, and regulators are justifiably concerned. As an industry, we need to do better, and we have a lot of work to do to come out stronger.
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It's my privilege to bring the institutional voice to the Digital Assets Summit tomorrow at the White House. Thank you, @realDonaldTrump , @davidsacks47 and @BoHines, for the invite & gathering this great group— showcasing US leadership and innovation. Excited to support the crypto policy roadmap!
Most of the invite lists circling X are fake but this looks correct (though not yet complete). Note that the Digital Asset Summit is not a conference; it’s a roundtable. We appreciate all of the interest but need to keep it small to have a meaningful conversation.
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We're in a defining moment for #crypto - fueled by the growing institutional interest, tokenization of USD, and Coinbase IPO. I shared my perspective on this momentum on Bloomberg Technology yesterday. It was truly a pleasure to connect with @emilychangtv via @falconxnetwork
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1) Most of world's value will be tokenized in the next 5 to 7 years, and Crypto is the first usecase. Fiat is getting tokenized with Stablecoins and culture + art with NFTs. Next up, equities. 🧵👇
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1/ Based on customer conversations, $1 to $2 billion of spot #BitcoinETF inflows in the first week are priced into Bitcoin at $45K. Inflows could be more with ETF fee wars beginning this morning. 2024 is setup well for crypto with ETF approval, BTC halving, Ethereum upgrade, and QoQ Q4 crypto fundraises growing 81% to $3.83 billion.
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Great day at the White House today! Excited for the future of innovation in the US! @fgthiel @vladtenev @KyleSamani @HesterPeirce @CarolineDPham
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Excited for this big milestone - we couldn't have done it without our customers, partners, investors, and employees! Looking forward to the next chapter 🚀
We’re excited to share that we’ve raised a $210M Series C round led by #AltimeterCapital, @BCapitalGroup, @SapphireVC, and #TigerGlobal at a $3.75B valuation - making us one of the most valuable institutional cryptocurrency companies in the world. bloomberg.com/news/articles/…
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1/3 NEW: Today, @falconxnetwork launched a platform that will allow traders to extract maximum value from every single trade without compromising the security of their assets. Prime Connect by FalconX is the one-stop shop to trade across venues with the benefits of: - Bankruptcy-remote custody - Cross margining and stable credit lines - Market Access
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Today I'm excited to share @Falconxnetwork is the 1st & only #cryptocurrency #swapdealer registered with the @NFA_News & is one of the first crypto-focused primary level members of the @ISDA. bit.ly/3M4VJ9N
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#GenerativeAI will transform the future of trading. I’m excited to explore the possibilities #satoshi will offer @falconxnetwork's clients. Thank you @Steven_Ehrlich and @ForbesCrypto for the lively dialogue on FalconX’s Satoshi! forbes.com/sites/stevenehrli…
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Excited to formally announce our Series B and welcome #TigerGlobal and @BCapitalGroup! 🦅+🐅 ->🚀 In less than an year, we saw net revenue grew by 46X and transaction volume by 12X. Couldn't have done this without our exceptional partners & customers. bit.ly/fxseriesB
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The data is clear. For the first time, #crypto has proved that you can run full-stack #financialservices 24/7, globally & truly elastically. Yesterday, @dee_bosa & I spoke about the future of #tokenization & how our recent #SeriesD round will allow us to lead the charge.
Bitcoin may be crashing, but @falconxnetwork is flying high 🦅 CEO @2Ragu joins on the heels of the crypto exchange's $150M funding round for a closer look at the company's Q1 highlights, customers and engagement.
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5 million dead due to the pandemic, and we have a war at play now... This quote by Gandhi resonates with me during these difficult times: "Each one has to find his peace from within. And peace to be real must be unaffected by outside circumstances."
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Thoughts on #CryptoRegulation from @SALTConference : a) With recent high quality venture 💲💵 in crypto, regulatory clarity for #crypto is a matter of time b) Regulatory uncertainty was a common theme for other profound technology shifts c) Regulators are willing to collaborate🚀
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We moved $1T in volume with just 25 back-office folks – thanks to blockchain & tokenization. This technology will inevitably transform how all asset classes settle. And this is how I see finance evolving: 1) Blockchain tech across markets 2) In a regulated manner 3) At scale 4) In the US The future is here, and it’s built on blockchain. Thanks, @furrier and @bjbaumann2014 for the insightful discussion at the #theCUBE’s @NYSE Wired.
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Exciting day ahead with the first Digital Asset Summit! Top of the mind for me: 1) better USD banking rails for crypto companies 2) more collaboration within the industry to improve security, especially in the light Bybit hack 3) extend the efficiency of crypto/tokenization to tradfi.
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Six years ago, I hoped for a future where builders and regulators could sit on the same side of the table to modernize finance. It’s almost hard to believe, but today it’s happening. It’s only mid-2025, and we’ve already covered tremendous ground as an industry. I’m optimistic about where @FalconX, our partners, clients, and the broader ecosystem, can go from here. I’m grateful for my team’s grit and ownership through every market twist, and proud of what they’ve already accomplished this year. Some of the highlights: ✓ Acquired Arbelos and successfully integrated the team. ✓ Secured a majority investment in @monarq_mgmt. ✓ Represented FalconX alongside industry leaders at The @WhiteHouse's Digital Asset Summit. ✓ Launched our AI research platform, @AskFocal. ✓ Ranked #1 BTC options maker on @DeribitOfficial, and #1 market maker on @paradigm YTD. ✓ Partnered with Cantor for a first-of-its-kind Bitcoin-backed financing facility. ✓ Kicked off a strategic partnership with @StanChart to strengthen our banking and FX solutions. ✓ Partnered with the Jito Foundation and @okx to unlock institutional liquidity on @jito_sol. ✓ Launched off-exchange partnership with @CeffuGlobal to secure both firm and client assets traded on Binance. ✓ Upgraded our Credit Operations and Risk Engine (CORE) into one of the industry’s most advanced risk platforms, equipped with capabilities to fuel the next phase of growth and upcoming product launches. Stay tuned.
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We believe the next billion crypto users will go to their current #fintech app or broker for #crypto. We're excited to power this institutional transformation & expand the crypto ecosystem. Really enjoyed jamming with @Steven_Ehrlich at @Forbes - thanks! bit.ly/forbesfx
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2/ Is it a combination of Merkel proofs + triparty custody/3P clearing + continuous 3P audits? FalconX would like to do our part in delivering a much safer digital asset ecosystem
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1/4 The approval of the Ethereum ETF opens a new chapter in crypto, signaling a regulatory embrace of digital assets. This milestone introduces varied applications beyond Bitcoin's 'digital gold' narrative, paving the way for diverse blockchain applications in mainstream markets. #PivotalMoment
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This is a major trend not getting as much attention - tokenization of real world assets in the form of #StableCoins is growing exponentially. $30 billion to $50 billion in 2 months. 🚀 We now see major institutions getting comfortable with #USDC. More info 👇
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Thanks for having me on @Nasdaq @TradeTalks , @JillMalandrino! Summary: a) 2020 - 2021 #crypto bull run is largely driven by institutions and going strong b) not talked often but this run wouldn't be possible without major innovation in institutional market infra 👩‍🔧👨‍🔧
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Exciting day in D.C. with policy makers, the new administration, and staffers. Discussing stablecoins, market infrastructure, and security. Things are moving fast. Looking forward to much-needed regulatory clarity within the next 6 months.
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1/ After years in the making, it was great to see the launch of Bitcoin Futures based ETF $BITO giving #crypto exposure to millions of new users. As an engineer + product manager, I track user adoption + price impact carefully. 👇
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Excited to speak at #SALTNY on the future of digital assets, institutional adoption + chatter, and gaps in crypto infrastructure. Thanks for hosting @SALTConference and @michael_bodley! ^ @falconxnetwork
Speaker Announcement #SALTNY 🗽 Digital assets with @2Ragu of @falconxnetwork! To register, visit bit.ly/3gurHiL
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Great to host @bussgang for a fireside chat on his new book, The Experimentation Machine. AI is not just automating tasks — it’s reshaping decision-making, capital allocation, and even creative problem-solving. The biggest impact won’t come from AI replacing humans, but from those who learn to wield it effectively. Judgment, relationships, and first-principles thinking remain irreplaceable, at least in the foreseeable future.
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I think #GenerativeAI will be the new arms race in finance... Looking at the early results, it could be hard for firms without specialized tools built on top of LLMs to compete with the ones that do. Cautiously excited for the future of this tech 🤖
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Seeing institutional activity in $TRUMP. Larger ticket sizes across the desk in the last 24 hours as liquidity increases. With his inauguration tomorrow, the market is watching the next move.
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Truly an honor being named one of the Top 25 #Crypto Executives for 2022 by The Financial Technology Report! The credit goes to the 100+ team at @falconxnetwork for their trust and confidence... Onwards to creating a bigger dent in the universe 🚀 bit.ly/crypto25e
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Over the next 1.5yrs, we anticipate a volatile market, but that’s not to say we don’t also expect the flood gates to open with acquisition opportunities. I connected w/ @carolinamandl at @Reuters on what our #SeriesD funding means for the state of #crypto. reut.rs/3zRksf8
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Private credit is the next prominent use case of tokenization beyond stablecoins. In the United States alone, private credit assets amount to roughly $1.5T. Despite the scale, the market remains bound by two critical structural frictions: 1) borrowers pledge collateral to custodians and effectively surrender control of the asset, and 2) private credit operates in siloed verticals – agriculture, real estate, commodities, etc - with little interconnection. Onchain private credit is structurally more efficient, and I believe that it’ll transform this asset class. By recording collateral onchain, borrowers receive tokens representing their pledged assets; those tokens can then be reused as collateral in other strategies, unlocking capital efficiency and enabling composability across trading venues. With institutional‑grade risk management, tokenized credit instruments could bridge verticals, allowing capital to flow between sectors that are currently segregated. To demonstrate this concept, @FalconXGlobal, in partnership with @M11Credit and @paretocredit, has tokenized an institutional loan book. Depositors commit USDC to a vault and receive tokenized shares (CV tokens) of the underlying loan portfolio. These tokens can be posted as collateral on Morpho to borrow additional USDC, and the borrowed capital is recycled back into the vault within predefined risk limits. This design turns a conventional credit asset into a dynamic, collateralizable instrument so investors can obtain leverage without liquidating their positions. Although this facility is still small relative to our $1B+ credit book, it demonstrates the potential of tokenized private credit. By combining transparent, 24/7 settlement with composability and controlled leverage, tokenization could connect disparate credit markets and unlock significant capital efficiency. I’m very bullish about bringing private credit markets onchain and excited to innovate!
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Super excited that @falconxnetwork is nominated for Top Innovator award by @ETtech... Thanks much for recognition, and we're proud to be in the company of the fellow nominees! #ETStartupAwards
Replying to @ETtech
#ETStartupAwards: A quick look at the nominees for the top innovator category👉@falconxnetwork @entropiktech, @PlayShifu, @AgnikulCosmos & Bijak tech.economictimes.indiatime…
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Having been through several #crypto cycles, now is the time to build... Grateful for the recognition. More announcements coming soon at the intersection of #GenerativeAI and #DigitalAssets
Thank you @fintech_awards for recognizing FalconX 360 as the 2023 #DeFi Innovation Award winner. We're honored to be part of this elite group of #FinTech innovators transforming the future of finance. bit.ly/42BJ1bE
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Bitcoin just hit a new all-time high of $111K, marking seven consecutive green weeks. Since the products launched last year, spot-BTC ETFs have already taken in $40B+, including $4B just this May, with only 2 days of outflows. We're witnessing institutional capital allocation at unprecedented speed. The proof is in the conversations we have every day - corporate treasurers, AI founders, even policy teams now ask how to gain BTC exposure, not whether to start. The diversity of that inbound tells me Bitcoin is firmly mainstream. The momentum in digital assets continues to accelerate. Looking forward to @falconxnetwork being on the ground with @solanalabs at Bitcoin 2025 in Las Vegas! @AskFocal
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Thrilled to share that @FalconXGlobal is officially expanding into Latin America – now ranked among the fastest‑growing regions for institutional crypto activity. In the first half of 2025, LATAM posted $16.2B in trading volume, up 42% YOY, and Brazil alone now drives >70% of the region’s activity. We’re partnering with @BTGPactual and @MercadoBitcoin to bring FalconX’s global liquidity, capital-efficient solutions, and enterprise-grade infrastructure into this rapidly evolving ecosystem. The momentum is real – and we're here to help accelerate it.
We’re excited to announce our expansion into Latin America – one of the world’s fastest-growing regions for institutional crypto adoption. Now working with leading financial institutions across the region like @BTGPactual and @MercadoBitcoin, FalconX is bringing deep global liquidity, enterprise-grade infrastructure, and capital efficiency tools to power the region’s digital asset transformation. But we’re not just expanding – we’re also advancing the conversation. In our recent virtual roundtable, @JoshBarkhordar was joined by leaders from BTG Pactual and Itaú to discuss how Latin America’s top banks are shaping the future of digital assets. With LATAM’s tech-forward financial ecosystem and accelerating demand for institutional-grade solutions, we’re proud to support the next chapter of crypto innovation in the region. Read the full release: prnewswire.com/news-releases…
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Must admit, the sentiment behind the scenes is quite negative. LIBRA's flop, and the most recent security breach on top of the macro uncertainty are casting a shadow over the short term. Still, looking at the bigger picture, I'm optimistic. In a healthy bull market, you can see 6-8 pullbacks of 10% or so. We saw this in 2017, 2020, and 2021. The dips are just part of the ride, not the end. What Bybit pulled off - managing and surviving the largest monetary hack/one of the most complex security attacks ever conducted is a sign of the industry's maturity and resilience of market participants. Memecoins? They're here, for better or worse. Like any new incubation -  some parts of the innovation you love, some you don’t. But that’s how it goes when something’s still finding its footing. Looking mid-to-long term, there's a lot to feel good about. The U.S. has its most pro-crypto, pro-innovation government yet, and others are coming around— e.g. a sovereign wealth fund buying BTC- it's a big milestone, even if market reaction stayed muted. There’s still so much untapped potential. Most RIAs, 401ks, and pensions can’t even touch BTC yet. By our estimates, 70% of investable assets in the U.S. are still locked out of BTC and ETH ETFs, with brokerage firms citing risk concerns. Part of the ETF flows we're seeing stem from basis trading, not broad adoption. The market’s barely been scratched.
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FalconX is eager to announce our partnership with Cantor Fitzgerald to launch a significant credit facility, collateralized by Bitcoin and held in triparty custody. This represents the first step in a broader credit framework that we intend to scale to hundreds of millions in the near-term. Robust credit infrastructure is essential to well-functioning capital markets - an area where crypto has historically lagged its TradFi counterparts. This partnership represents a key step towards a more integrated liquidity ecosystem. By bridging conventional and digital capital markets, we are building the foundational rails for capital to move seamlessly across the stack. Proud to build alongside @Brandonlutnick, Michael Cunningham, and the team at Cantor Fitzgerald. Read here: theblock.co/post/355850/cant…
We’re pleased to announce our partnership with Cantor, a premier global investment bank. Together, we’ve closed our first Bitcoin-backed financing facility – the first phase of a broader credit framework intended to scale beyond $100M. @JoshBarkhordar, Head of U.S. Sales at FalconX, shared: “Over the past two years, we’ve seen institutional demand for credit grow dramatically, driven by the need for capital-efficient trading, hedging, and liquidity strategies. Digital assets have lacked the institutional-grade credit infrastructure that's essential to well-functioning capital markets. This collaboration between Cantor and a crypto-native firm represents a significant step toward building that framework, enabling digital assets to function with the same depth and reliability as traditional markets." This partnership also aligns with Cantor's broader $2B bitcoin financing initiative, representing a tangible milestone toward a more integrated liquidity ecosystem that supports market resilience and capital efficiency. Read the release here: prnewswire.com/news-releases…
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Had a great conversation with @DavidJNage on a range of topics including why I left Google for #Crypto and market color from institutions.
Base Layer w/@2Ragu from @falconxnetwork 💥 State of the State & the Institutionalization of Digital Asset trading, from build of primes, lending & the tooling needed for discovery & higher degrees of confidence iTunes: tinyurl.com/yc2vdq84 Spotify: tinyurl.com/y8gtve3r
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This is how we saw institutions come into #crypto and diversify beyond #Bitcoin ... We're trying to keep up with the institutional market growth 🚀
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The foundation of FalconX started with one goal: build the search engine for the tokenized world. Fast forward to today, we are one of the top five fasting growing companies in the world, and I can’t wait to see how we’ll advance the #crypto space. 🚀 #institutionalinvesting
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In the last 6 months, @falconxnetwork's team not only endured #covid but also grew revenue by 350% with transaction volumes tripling to around $3 billion/month, serving ~250 institutions globally. Very proud of the team and fortunate to have @AmericanExpress! 🚀🚀🚀
American Express’s venture arm has invested in the FalconX cryptocurrency trading platform trib.al/krNsShf
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Welcome, Jon Kaplan, to the @falconxnetwork team! With his years of experience leading massive teams at Google and Pinterest, FalconX is fortunate to have Jon on our team to continue our momentum in the institutional space. #crypto prn.to/3BDRiiB
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Great to be at the @NYSE this morning with @OpheliaBSnyder discussing @FalconXGlobal's acquisition of @21shares and what’s next for the convergence of digital assets and traditional markets. Thank you to @furrier, @bjbaumann2014, and Timothy Reilly for the warm welcome – exciting chapter ahead!
This morning at the @NYSE, our CEO and Co-founder @2Ragu and @21shares Co-founder @OpheliaBSnyder discussed the next chapter in how investors will access digital assets. The conversation came on the heels of our acquisition of 21shares - an exciting step forward in accelerating innovation and shaping the future of market access. Thank you to @furrier and @bjbaumann2014 for having us!
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I've been following @jfineman's work for a while, and it was great to finally connect🤝! Gist: a) I met with some of the largest hedge funds, and most are shooting to increase crypto allocation towards 8% to 9%, which is a huge jump b) we're hiring;DM 🚀 coindesk.com/business/2021/0…
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Institutional demand for #Bitcoin and #Ethereum increased their prices over 170% and 110% in Q4 2020. I had the opportunity to talk with @ianjohnlee @IDEOVC about market evolution and user personas contributing to the next wave of growth. bit.ly/fx_cryptousers
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To most people such as my parents, accessing crypto markets was not seamless, and in some cases not safe—and that limited growth in the last cycle. ETFs will be powerful, centralized wrappers around protocols such as BTC, to massively increase the access, safety, and user experience of the asset class to retail users. Excited for what’s next 🚀 🧵 👇
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Excited to speak with @prash_speaks at the #CryptoSummit in few hours! We'll be covering the forces behind crypto growth, @falconxnetwork's trajectory, and India's pivotal role... Thanks, @Inc42 Join us:
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Crypto crossed the inflection point, entering a new chapter of growth led by the US. Exciting times ahead. 🚀
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#Crypto market cap breached $3 trillion!! And I don't see signs of slowing down just yet 🚀
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The last few days will be remembered as some of the most consequential for crypto. I’m proud to see FalconX support our clients and partners during this turbulence. We're observing a large increase in institutional trading activity. Sharing some insight from our desks below.👇
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95K+ lines of code generated with AI. 20K+ weekly LLM interactions. 2/3 of the @FalconXGlobal team use internal AI tools weekly. We're seeing team members across FalconX integrate AI into their daily workflows, and the results speak for themselves. Trade reconciliation that used to take hours now happens instantly. Our compliance team is identifying patterns in real time that would have taken weeks to surface manually. Chat monitoring across client communications runs 24/7/365 without missing a beat. Beyond efficiency gains, our people are operating at a higher level. Engineers are focusing on architecture instead of mundane tasks. Traders are making better decisions with better data, faster. Operations are running more efficiently even as volumes scale. Still early, but the AI-driven alpha is clear. @AskFocal
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Excited for the panel at @money2020 with Jamila and @johnjdagostino! Tokenization is the bigger trend for the next decade, and #Cryptos are the first usecase... It's stablecoins, NFTs, gaming, social, tokenized equities, and more to come.
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Had a great conversation with Emily on #Bloomberg @technology about @falconxnetwork's Series C, #InfrastructureBill, and more. Thanks for hosting me, @emilychangtv! Watch here: bloomberg.com/news/videos/20…
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2/6 @falconxnetwork will enable that transformation for institutions. We couldn’t have done this without our customers and partners - thank you! 🚀
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5/ We are actively working to guide the industry to a better place and look forward to partnering with our customers and others to achieve a more positive outcome for all.
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Today's SEC vs. Grayscale ruling highlights the US legal system's role in providing impartial regulatory clarity to executive agencies, the #crypto industry, and the general public. This commitment is pivotal in establishing the US as a prominent crypto jurisdiction.
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#inflation is real... We haven't seen this rate of inflation growth in decades. United States is at 6.2% and Europe at 4.1%... In the below emerging markets (~15-20% of the world population), the minimum listed is 10%, i.e. their purchasing power will halve in just 8 years.
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Being the founder of one of the fast growing companies and industries in the world is both humbling and motivating. FalconX wouldn't be anywhere without the premiere talent we've been privileged to have on our side. The hard work never goes unnoticed! #EmployeeAppreciationDay
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Congratulations to President-elect Trump on his decisive election victory. The market’s strong response reflects a clear embrace of his stance on crypto. We look forward to seeing how pro-innovation policies shape the future of this industry.
Our CEO @2Ragu extends his congratulations to President-elect Trump on his victory. We’re excited to see how innovation-friendly policies will drive the future of the digital asset space.
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This Thursday, I’ll be attending @CollisionHQ and joining @sgoldfed of Offchain Labs and @forgeforth_ of CoinTelegraph to discuss how the #crypto winter is driving a flight to quality and innovation in #GenerativeAI and #Finance. We hope to see you there. #CollisionConf
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A lot of institutions ask us whether they need to have 24/7 coverage (trading, ops, etc.) in #Crypto... Yes, you should, and that's the future of finance. It's not hard... A good chart from @MessariCrypto showing the alpha of 24/7 coverage for #ETH (more data 👇):
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In my early career as an engineer, I grew a passion for building products that create value. It's also what has inspired me as a founder. During this #NationalEngineersWeek, I want to express my appreciation for the engineers who have inspired me and those who keep on innovating.
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4/6 The market is certainly volatile, and we're in a corrective phase. As painful as this is, I believe the best companies are built in bear markets. Take Google, for example.
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6/6 Read more about our #SeriesD funding here: bit.ly/39AxAuo
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Had a great chat with @zhang_matt on everything from today’s market pulse to policy, stablecoins, tokenization, and where AI fits in. Full episode drops tomorrow. Stay tuned!
In 2018, @2Ragu made 3 statements in his first pitch deck to investors... 1⃣ Crypto will be a $3 Trillion Asset Class 2⃣ Institutions will represent more than 50% of the market 3⃣ This technology will spill over into other asset classes Fast forward to today: Predictions 1 and 2 have panned out remarkably well, and the third is well on its way! Tomorrow we kick off Season Two of Hivemind's podcast, Total Value Unlocked, with our new theme: Market Infrastructure. As Co-Founder and CEO of one of the largest digital asset brokers, @falconxnetwork, Raghu is the perfect first guest. From how FalconX handles trillion-dollar trading volumes to the massive growth in derivatives, he offers insights on where market infrastructure stands today and what's coming next. Tune in tomorrow for the full episode!
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Episode’s live! It was great to discuss @FalconX’s journey and vision for the future on @Hivemind’s Total Value Unlocked podcast with @zhang_matt. Three key takeaways from our conversation: 1) This crypto cycle is structurally different: the powerful combination of ETF approvals, this administration’s support, and incoming regulatory clarity put real institutional weight behind crypto for the first time. 2) Tokenization unlocks 10x more efficiency: we settled $1T last year with just 25 people in the back office - what takes hundreds of people at traditional banks. 3) Stablecoins grow “outside in”: adoption starts in emerging markets, then works its way back into developed economies, global settlement, and traditional assets. Thanks Matt for having me!
Can crypto help rebalance the AI power dynamic? @falconxnetwork Co-Founder and CEO, Raghu Yarlagadda (@2Ragu) shares his vision for a more decentralized AI future and more in the Season 2 premiere of Total Value Unlocked! We cover: → Stablecoins as global settlement infrastructure → Risk isolation: the missing link in crypto trading → Insights from the White House Digital Asset Summit → The rise of derivatives and consolidation across crypto markets → Aligning AI and crypto through open-source incentives This season, we’re diving deep into Market Infrastructure: the rails, tools, and systems shaping digital asset markets. Follow for what’s next, we’ve got some incredible guests coming up! Jump in ⬇️: 02:30 The three pillars of FalconX and why derivatives are taking over 06:00 Institutional conviction in Bitcoin and why it's growing 8:00 What makes this market cycle structurally different 13:15 Why consolidation is accelerating in crypto and how FalconX is navigating it 17:45 The original 3 statements Raghu made in 2018—and how they’re playing out 20:45 Inside the first-ever White House Digital Asset Summit 26:00 The case for a fairer regulatory playing field in the U.S. 28:45 Tokenization = a 10x efficiency boost for ops 33:30 Why stablecoins will find PMF first in developing markets 36:00 AI meets crypto: solving the open-source incentive problem 43:00 The mindset that built FalconX into a market leader 44:30 The missing piece in infrastructure: risk isolation
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One of my favorite moments of 2021: the world's largest country banned #Bitcoin threatening ~70% mining capacity. In a few months, it's incredible that the network fully recovered with better geo distribution. Can world's best centralized companies handle that effectively?🤷
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While it was chaotic, #ElSalvador adopting #Bitcoin as a legal tender marks a new chapter as the world tokenizes. Innovation is messy and expensive, especially at the start 🚀
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We are seeing a massive consolidation in crypto. There was initial skepticism when we flagged the trend last October in an interview with @Bloomberg, but we’ve seen record quarters in number of deals since. With 59 deals in Q4 2024, Q1 2025 just topped that with 61 M&A transactions, making it the busiest quarter in crypto history. We expect clear regulation in the next 6–12 months – and with that, the industry may consolidate to 7–9 major players worldwide, both retail and institutional, but regulated. This is the same dynamic as the 2002 internet era. When reg clarity emerged, tech giants gained momentum by acquiring key assets (think DoubleClick, YouTube), and the market ended up with a handful of dominant players. Why is this inevitable? 1. Economies of scale: In finance, the bigger you are, the stronger your liquidity and risk management. That means you can handle everything from a $10 trade to a half-billion-dollar transaction without missing a beat. 2. Regulation drives confidence (and M&A): Once clear rules emerge, only those equipped to meet compliance standards thrive. Smaller or unregulated players often exit or get acquired – spurring consolidation and allowing institutional capital to stay onshore rather than seek offshore venues. 3. Technology & derivatives: Just as in traditional markets, derivatives will dominate. But crypto’s 24/7/365 nature and on-chain complexity demand heavy tech investment for real-time risk management. That focus accelerates the market’s maturation, rewarding those who can keep up. This shift isn’t just speculation – it’s the natural progression of a maturing financial ecosystem. As regulation solidifies and technology advances, the leaders will be those who adapt, innovate, and operate with institutional-grade resilience. Fascinating time to watch this next chapter unfold.
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4/ It’s unfortunate to see this happen to our industry and the pain it is causing for so many amazing builders, investors, and individuals.
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It’s been a wild ride – but one that speaks volumes about what it means to operate as a truly crypto-native firm. @FalconXGlobal has been one of the largest liquidity providers supporting the movement of new digital asset treasuries. Over the past few months, our spot desk has seen multiple record-breaking weeks, handling nearly 30% of all inflow for the deals. But why are treasuries bringing size to FalconX? We provide balance-sheet flexibility by bridging the gap between capital raising and deployment, while offering deep expertise and execution through bespoke structuring of large tickets – efficiently utilizing our FX, OTC, and derivatives pipelines. ETH corporate treasuries attracted more than $6B+ in just 2 months; while spot ETH ETFs took nearly a year to hit the same milestone. That pace reflects the nimbleness that’s required to capture emerging opportunities in this market. One which rewards crypto-native teams that can structure creatively and quickly, work across borders, and act in real time. That’s where we excel. Eager to see treasuries continue to develop into a new category, of permanent capital focused on delivering token exposure and yield to a broad investor base. One avenue, many more to come.
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3/6 The long-term conviction in institutional #digitalassets is alive and well. Despite the market conditions, we've onboarded the highest number of institutions in company history in 2022.
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Thank you so much, @frenplaintext! Onboarding and back end operations are hard - the team draws so much energy from your feedback.
Huge pain point in crypto right now: institutional onboarding at every level: Attorneys, custodians, exchanges... The only exception was @falconxnetwork
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5/6 There's a lot we need to accomplish, and this investment and the world-class team we've assembled gives me the confidence that we'll deliver on the promise of #digitalasset transformation.
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It was fun hanging out with @_pagarwal at @accelindia #SeedtoScale podcast! Here's the discussion on how we built FalconX, #DeFi, and evolution of crypto: seedtoscale.com/content/futu…
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Honored and excited to be a part of this cohort! Thank you, @theinformation and @akashpasricha. Time to focus on building and getting crypto ready for the next billion users 🚀
Replying to @theinformation
UP & COMERS: individuals in the running to lead or back the next $100 billion crypto startups. Keep an eye on @AriannaSimpson, @alexisohanian, @nikil, @stablekwon, @dfinzer, @sandeepnailwal, @starkness, @haydenzadams, @2Ragu, @_kinjalbshah #ticrypto theinformation.com/crypto-po…
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My prediction: Within five years we’ll see a WeChat-style super-app in the West, with finance deeply integrated throughout. What was missing until now was modern financial infrastructure. Stablecoins have changed that, reaching ~$250B in market cap - clear evidence of product market fit. With federal-level clarity on the horizon, beginning with the GENIUS Act and, ideally, a broader market structure bill – we’re seeing new entrants. Beyond banks and fintechs, consumer tech giants like Meta are moving in. The lines are blurring. Platforms will add neo-banking capabilities, and for users, “banking” will simply live inside the apps people are already using.
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Back in 2018 as the world was headed into a decade of inflation, I found conviction in the financial revolution that digital assets would bring. My 3 big bets were: ✓ Crypto would become a trillion-dollar asset class. ✓ Institutions would inevitably follow. ✓ The underlying technology could transform traditional finance through tokenization. That’s the idea @FalconXGlobal was built on. Fast forward to today, and I’m proud that my team has built one of the key pillars of institutional crypto infrastructure: ✓ Over $1 trillion in volume in the last year. ✓ 12–14% of global options market share. ✓ First registered crypto swap dealer in the U.S. At FalconX, we’re 24/7/365. We’re regulated. And we’re just getting started. If you are someone who thrives where finance, tech, and regulation collide – we’re building the future. Learn more about opportunities at FalconX here: falconx.io/careers
The best part of building something that’s never been done before? The team you build it with. At FalconX, we’re scaling fast, and our growth is powered by a global team of 300+ traders, engineers, technologists, and entrepreneurs who challenge conventional thinking to push markets forward. Meet the team behind the mission.
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Welcome Baris Cetinok to the team! I’m excited for the continued value we’ll create as we continue to scale FalconX.
We are happy to welcome @cetinok to our team as #ChiefProductOfficer. Cetinok brings decades of experience from some of the world's leading technology brands to his new role and we look forward to the innovations he’ll bring to the company. bit.ly/3DOwKG2
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Great to connect with you earlier today on @CNBCTechCheck @CNBC , @dee_bosa - thanks for having me and for the good dialogue!
Our @Dee_Bosa recaps her livestream interview this morning with Raghu Yarlagadda @2Ragu, the CEO of crypto platform @FalconXnetwork. The company just announced a $200 million raise.
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India has the tools, the talent, and the timing. I think the largest democracy in the world is poised to unlock access to digital assets at scale in the next 18-24 months. Spending time with our team in India this week was both inspiring and energizing. There’s a real sense of momentum here – everywhere you look, people are building, scaling, and thinking globally. India’s digital public infrastructure is moving at incredible speed. UPI (Unified Payments Interface) – which enables instant, mobile-based payments across banks – now processes 12B+ transactions a month, with over 420M users. It’s one of the world’s most successful real-time payment systems and a clear example of how India is leapfrogging legacy financial infrastructure. At @FalconXGlobal, we believe India is uniquely positioned to become a global Web3 powerhouse. But to get there, the country needs clear, forward-looking regulation – covering stablecoins, tokenized assets, and taxation. Without that clarity, capital, and talent risk flowing to more crypto-friendly jurisdictions. We’re proud to be investing in India – expanding our local team, contributing to policy conversations, and helping bridge traditional and digital finance.
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Two years ago, we took a contrarian bet – while many anticipated a small number of dominant LLMs, we believed the future would involve a wide range of models, each suited to different tasks. This led us to create @AskFocal, an LLM orchestration platform for financial institutions. The goal? To help teams use the right model for the right query, grounded in the right data. And what’s been encouraging is how quickly it’s resonated – the platform has 80 clients representing $10B AUM in less than 9 months. It’s exciting to witness how quickly things are evolving, and I’m looking forward to the next phase of this journey into traditional finance! You can tune into the full podcast here: piped.video/watch?v=zw06U5Pb…
FalconX is shaping the future of AI-powered financial intelligence. Our CEO and Co-founder @2Ragu sat down with @furrier on @NYSE Wired and @SiliconANGLE & @theCUBE's Crypto Trailblazers Podcast to discuss the future of crypto and our AI platform built for institutional investors, Focal. In 2022, we made a contrarian bet on a future where the AI landscape would feature hundreds of multi-modal LLMs. We envisioned a world where true value wouldn’t solely come from the models themselves, but from industry-specific vertical applications that: ✓ Choose the right model for the task. ✓ Ground in trusted data sources and in protected enterprise data. ✓ Tailor workflows to each customer and users within. We developed Focal with this strategy in mind, meticulously refining every essential component: the model layer, data layer, and application layer, while prioritizing security and data privacy. The outcomes have exceeded our expectations. Learn more about Focal here: falconx.io/focal
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5/5 This is an exciting time for crypto. The confluence of traditional finance and digital assets continues to reshape markets. Impact of ETF extends beyond price discovery; it catalyzes innovation and transforms crypto into a more comprehensive and inclusive asset class. 🚀
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Deeply saddened to see the news about Tiantian, co-founder of @ambergroup_io. I enjoyed the few interactions I had with him and know he cared about the industry deeply. Sending my prayers to his family. bloomberg.com/news/articles/…
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💯 #Crypto is the new real estate when it comes to alternative #assets. Banks are finally starting to view crypto markets more conventionally and recognize #Bitcoin’s capabilities.
JPMorgan Says Bitcoin Is Undervalued By 28%, Says Cryptocurrencies Are Now Its ‘Preferred Alternative Asset’ by @ninabambysheva on.forbes.com/6014zRH4q
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Had a great chat with @BrianSozzi and @MylesUdland on the state of #Crypto, #DeFi, stablecoins and more. Institutional demand continues to be high at @falconxnetwork. Thank you @YahooFinance! finance.yahoo.com/video/were…
FalconX CEO @2Ragu on $BTC: "Institutional demand over the last month is cautiously optimistic. They are definitely concerned about where or what is going to happen next, especially on the regulatory front." finance.yahoo.com/
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I had the pleasure of speaking with @DelrayMan and @Steven_ehrlich of @ForbesCrypto to discuss the factors that contributed to last week's #lunaterra stress test, what the recovery plan looks like and the opportunities ahead for #institutionalinvestors.
The bottom fell out from one of crypto’s fastest-growing projects. Its predictable collapse reverberated across the entire crypto market and is forcing investors to pick up the pieces: by @DelRayMan and @Steven_Ehrlich on.forbes.com/6012zMZMQ
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Excited to share that @FalconXGlobal has officially surpassed $2T in trading volume since inception. Scale, trust, and 24/7 service – that’s what sets us apart.
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Super excited for @IDEOVC's fund and its impact to broader crypto ecosystem! Having worked with them closely, Ideo and @ianjohnlee are among the very few in crypto who can take #crypto and #digitalassets to the next level.
Today we're excited to announce our $21M crypto fund that has invested in & helped incubate 30+ crypto startups to date. Backed by @ideo, 4 corporations & execs @coinbase @Twitter & other institutions, we're here to help bring crypto to the mainstream. medium.com/ideo-colab/ideo-c…
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