SEC · Wall Street · CoinDesk
Crypto trading firm FalconX confidentially files with SEC for IPO, hires bankers
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★ Tier-1 Source
Crypto trading firm FalconX has confidentially filed a draft S-1 registration statement with the Securities and Exchange Commission (SEC), the initial step toward a potential public listing, according to a person with knowledge of the matter.
Key facts
- In June 2022, the company raised $150 million in a Series D funding round that valued the firm at $8 billion
- Crypto firms entered 2026 expecting a strong year for IPOs after successful listings by companies such as Circle (CRCL) and Bullish (BLSH), CoinDesk’s parent company, helped rekindle investor
- Crypto trading firm FalconX has confidentially filed a draft S-1 registration statement with the Securities and Exchange Commission (SEC), the initial step toward a potential public listing
- The California-based company's IPO is not expected to happen until the end of the year, given market conditions, the person added
Summary
FalconX has confidentially filed a draft S-1 with the SEC and hired Cantor to advise on a potential IPO, according to a source. The crypto prime broker, last valued at $8 billion in 2022, serves institutional clients including hedge funds, asset managers and market makers. Cooling investor sentiment, weaker trading activity, and lukewarm post-listing performance from recent crypto IPOs have delayed plans across the sector, including at Kraken parent Payward, Consensys and Ledger. FalconX has hired Wall Street heavyweight Cantor and other bankers to advise on its initial public offering (IPO), the person said, who spoke on condition of anonymity as the matter is private.