Tiger Invests in Crypto Platform FalconX Valued at $675 Million

FalconX, a cryptocurrency trading platform, raised $50 million from investors including Tiger Global Management and B Capital Group, according to people with knowledge of the matter.

The San Mateo, California-based startup, led by Chief Executive Officer Raghu Yarlagadda, is valued at about $675 million as a result of the new investment, said the people, who asked not to be identified. The company, which is profitable, processes about $6 billion in volume a month for institutional investors, and has experienced significant revenue growth amid increased interest in cryptocurrencies, one of the people said.

Representatives for FalconX and B Capital declined ...