finance
Crypto Trading Firm FalconX Files Draft IPO Papers With SEC
FalconX confidentially submitted a draft registration statement to the Securities and Exchange Commission and retained Cantor and other advisers for a potential public offering. The California-based firm, last valued at $8 billion in 2022, serves institutional clients and does not expect to complete a listing until later this year.
May 28, 3:53 PM·1m read1 source
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Crypto trading firm FalconX has confidentially filed a draft S-1 registration statement with the Securities and Exchange Commission, according to a person with knowledge of the matter. The filing marks the first formal step toward a potential initial public offering.
FalconX has also hired Cantor and additional bankers to advise on the process, the person said. The company operates as a digital asset prime broker serving hedge funds, asset managers, and market makers. It provides trade execution, liquidity access, credit, and clearing services.
The IPO is not expected to occur until the end of 2026 because of current market conditions, the person added. Both FalconX and Cantor declined to comment. FalconX raised $150 million in a Series D round in June 2022 that valued the firm at $8 billion.
Several other crypto companies, including Payward, Consensys, Ledger, and Grayscale, have postponed their own IPO plans while awaiting improved trading volumes and post-listing performance.
