Are happy days here again for cryptocurrency?

Crypto platforms and coins have taken severe hits in what can only be described as a pessimistic market: Crypto giant Coinbase reduced its workforce by 1,100 in the second quarter, while executives from exchange platform Gemini noted the onset of market instability as cause for a 10% staff liquidation. But with fears of a “crypto winter” looming, all looks sunny for crypto brokerage FalconX, which on Wednesday announced a $150 million funding round that pegs the firm at an $8 billion valuation.

FalconX to scale with $150M

FalconX offers a platform for trading, settlement and portfolio management, and touts itself as the “first and only cryptocurrency swap dealer” registered with the National Futures Association, according to its website. Chief Executive Raghu Yarlagadda said in a release that FalconX is “one of the very few crypto prime brokerages who do not take on market risk, so we’re not in conflict with our clients and their trading strategies.”

FalconX plans to use the funds to scale business operations and build new products. The round was led by GIC and B Capital, and participants included Thoma Bravo, Wellington Management, Adams Street Partners and Tiger Global Management. FalconX has raised $477 million over eight funding rounds, according to Crunchbase.

Silicon Valley Bank backs Alviere in debt round

Embedded finance company Alviere has raised an undisclosed amount of debt financing from Silicon Valley Bank, the company announced Thursday.

Alviere provides an enterprise embedded finance solution, with services ranging from branded bank accounts and payment processing to compliance and crypto. The $220 billion Silicon Valley Bank saw Alviere as playing a “key role” in non-bank financial services.

“Bringing new variations of financial services into stores, stadiums, or anywhere loyal customers want to spend time and money provides a tremendous opportunity for brands to engage their followers in new and exciting ways,” Jordan Parcell, Silicon Valley Bank managing director, said in a release.

Prior to the undisclosed amount of debt funding, Alviere had raised $70 million over three rounds, according to Crunchbase.

Compliance automation firm Banyan raises $8.2M

Banyan has secured $8.2 million in a seed funding round, the company announced Wednesday.

Banyan uses application program interfaces (APIs), workflow automation and a “centralized” data vault to automate sustainable infrastructure financing. Founder and Chief Executive Will Greene said in a release that the “tech-first platform is helping to provide loans and investments originated at a higher velocity, serviced at a lower cost, and syndicated with greater liquidity.”

The round was led by VoLo Earth Ventures, and is Banyan’s first publicly disclosed funding round, according to Crunchbase.

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