Crypto buying and selling agency FalconX has confidentially filed a draft S-1 registration assertion with the Securities and Alternate Fee (SEC), the preliminary step towards a possible public itemizing, based on an individual with information of the matter.
FalconX has employed Wall Road heavyweight Cantor and different bankers to advise on its preliminary public providing (IPO), the particular person mentioned, who spoke on situation of anonymity because the matter is personal.
The California-based firm’s IPO shouldn’t be anticipated to occur till the top of the yr, given market situations, the particular person added. CoinDesk beforehand reported that Cantor was among the many companies pitching FalconX for its potential itemizing.
Each FalconX and Cantor declined to remark.
FalconX is a brokerage and buying and selling agency that primarily serves institutional shoppers, together with hedge funds, asset managers, and market makers. Based in 2018, it operates as a digital asset prime dealer, offering providers resembling commerce execution, liquidity entry, credit score, and clearing. In June 2022, the corporate raised $150 million in a Collection D funding spherical that valued the agency at $8 billion.
Crypto companies entered 2026 anticipating a powerful yr for IPOs after profitable listings by firms resembling Circle (CRCL) and Bullish (BLSH), CoinDesk’s father or mother firm, helped rekindle investor urge for food for digital-asset companies in 2025.
Since then, nevertheless, deteriorating market situations, weaker buying and selling volumes and lackluster post-listing performances from newly public companies resembling BitGo (BTGO) have cooled enthusiasm for extra crypto IPOs.
A number of main crypto firms, together with Payward, Kraken’s father or mother firm; Ethereum software program developer Consensys; {hardware} pockets maker Ledger, and asset supervisor Grayscale, have since postponed their IPO plans whereas ready for market situations to enhance.
Some companies are nonetheless pushing forward with their plans to go public. Blockchain.com mentioned final week that it had confidentially filed for a U.S. IPO with the SEC.
In the meantime, Securitize has agreed to merge with Cantor Fairness Companions II, a Nasdaq-listed particular goal acquisition firm, in a deal that may make it one of many few publicly traded companies primarily targeted on tokenized securities and real-world property.
Learn extra: Crypto IPOs might create large $1 trillion market amid tokenization wave, Jefferies says
