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FalconX has successfully secured a total of $17 million in Seed funding round from a group of prominent investors, including Accel, Coinbase Ventures, Fenbushi Capital, and Avon Ventures. This substantial funding reflects the growing institutional demand for a platform that addresses the issue of artificially inflated trading volumes in the cryptocurrency market.
The funding will be primarily allocated towards developing new products and implementing changes to the trading infrastructure to support the company's rapid growth.