<p>FalconX, the crypto brokerage and trading firm backed by American Express, has raised new funding at a valuation around $670 million, The Block has learned.</p> <p>The round, which will bring in $50 million, is being led by Tiger Global, a New York-based investment firm that has expanded its footprint in the crypto space across a series of notable deals in recent weeks. After publication, another source said the valuation was $675 million. </p> <p>These include BlockFi's unicorn-status <a href="https://www.theblockcrypto.com/post/97974/blockfi-confirms-series-d-3-billion-valuation" target="_blank" rel="noopener noreferrer">$350 million Series D round</a>, announced Thursday, and the recent $100 million funding round for tax services company <a href="https://www.theblockcrypto.com/linked/96862/crypto-tax-taxbit-funding-round-series-a" target="_blank" rel="noopener noreferrer">TaxBit</a>. </p> <p>FalconX <a href="https://www.theblockcrypto.com/linked/88082/american-express-crypto-falconx" target="_blank" rel="noopener noreferrer">disclosed a funding round</a> in December that notably drew participation from AmEx Ventures, the credit card company's venture arm. The firm <a href="https://www.prnewswire.com/news-releases/falconx-secures-17m-from-accel-accomplice-and-coinbase-to-expand-its-crypto-trading-platform-301058707.html" target="_blank" rel="noopener noreferrer">raised $17 million in financing</a> last summer from a group of investors that included Avon Ventures, which is tied to asset management giant Fidelity, Coinbase Ventures, Lightspeed and others.</p> <p><em>This post has been updated with new information.</em></p>