Arbelos, a primary market crypto trader, completes $28 million in financing, led by Dragonfly

ChainCatcher reported that Arbelos has completed a $28 million financing round, led by Dragonfly, with participation from FalcolnX, Circle, Paxos, Polygon and Deribit. Arbelos Markets will focus primarily on derivatives and over-the-counter transactions for institutional participants, providing trading liquidity for companies such as hedge funds and venture capital firms, as counterparties for popular products such as options and futures. This round of financing ended in mid-2023.

It is reported that both co-founders Lim and Tang started their careers in traditional finance before turning to cryptocurrency. Lim served as vice president of trading at Circle and was responsible for trading strategies at Galaxy Digital, a commercial bank founded by Mike Novogratz, before becoming head of derivatives at Genesis Global Trading, a subsidiary of Barry Silbert's Crypto Empire Digital Currency Group. Since 2017, Tang has served as chief investment officer and managing partner of LedgerPrime, a cryptocurrency hedge fund acquired by FTX.