Coinspeaker
Crypto Veterans Secure $28 Million in Funding Round for Arbelos Markets Led by Dragonfly

Joshua Lim and Shiliang Tang, two crypto veterans who previously worked at Circle Financials and LedgerPrime, a digital asset hedge fund acquired by FTX before its collapse in November 2022, have successfully raised $28 million in a funding round led by Dragonfly Capital, one of the leading investment companies in the industry.

According to a Fortune report on Wednesday citing an interview with the duo, the round saw participation from other notable companies in the industry including their former employers. These companies are FalconX, Circle, Paxos, Polygon, and Deribit.

Venturing into New Horizons with Arbelos Markets

The two crypto veterans plan to use the funds to launch a digital asset trading platform known as Arbelos Markets. Although the company officially debuted in the third quarter of 2023, it has been shrouded in secrecy until now.

However, with the recent funding, Arbelos will be expanding its services to facilitate the buying and selling of crypto digital assets. Once completed, the platform will specialize in derivatives trading, and providing liqu...