According to TechFlow, on October 7, Bloomberg reported that FalconX, a digital asset trading and brokerage company, is actively looking for acquisition opportunities after its revenue hit a record high in the second quarter of 2024. Raghu Yarlagadda, the company's co-founder and CEO, said in an interview with Bloomberg that a wave of consolidation is expected in the cryptocurrency industry in 2025.

A FalconX spokesperson revealed that the company's second-quarter revenue increased 2.5 times year-on-year, and derivatives trading revenue increased nearly 3 times. However, specific financial data has not been disclosed. The company is currently evaluating multiple potential acquisition targets, focusing on high-quality small companies in the fields of institutional infrastructure, data analysis, and tokenization, and plans to expand its trading team in 2025.

Yarlagadda pointed out that as more institutional players enter the market and regulations become stricter, the operating costs of cryptocurrency businesses will rise, which will drive industry consolidation. FalconX is actively preparing for this, hoping to strengthen its market position through strategic acquisitions. Founded in 2018, FalconX was valued at $8 billion in a $150 million round of financing in 2022.