London, November 7, 2023 – Crypto prime brokerage firm FalconX has made a significant addition to its team by bringing on board Thomas Doyle, a former Managing Director at Goldman Sachs in London, who previously spent over a year at Coinbase. The move signals FalconX’s intention to bolster its presence in Europe, and the company has expressed its commitment to further expanding its European operations.
Doyle, who has joined FalconX, recently spoke at the 2023 Digital Asset Conference about the company’s strategic goals. He stated, “The strongest have survived,” acknowledging the resilience of the cryptocurrency industry. He believes this resilience has created an opportunity for FalconX to attract top talent to the organization.
According to Doyle, FalconX, headquartered in San Francisco, has enjoyed a strong presence in the United States. He confidently predicts that within the next 12 months, the firm will emerge as the “largest institutional player in Europe.” The company’s ambitions extend beyond its existing achievements and encompass a strategic push into the European market.
Doyle highlighted FalconX’s unique selling proposition (USP) as its agility in the market, particularly in the crypto derivatives sector. He noted that despite the challenges faced by hedge funds and asset managers in the crypto space over the past year, the expansion of the options market has encouraged institutional players to diversify their token portfolios and trade a broader range of assets offered by FalconX.
FalconX is strategically positioning itself to cater to the “middle lane,” catering to both quantitative and macro traders. This includes major multistrategy hedge funds. During the same conference, Raghu Yarlgadda, the founder of FalconX, announced the successful onboarding of one of the world’s top five hedge funds that previously had no exposure to the cryptocurrency market. This move signifies the increasing interest from traditional financial players in the digital asset space.
FalconX’s recruitment of Thomas Doyle and its strategic focus on European expansion are indicative of the growing recognition of the cryptocurrency market’s potential and the company’s aspiration to establish a robust presence on the global stage. Doyle’s experience and insights gained from his time at Goldman Sachs and Coinbase will likely be instrumental in achieving FalconX’s objectives in the European institutional market.