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, in response to 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 individual stated, who spoke on situation of anonymity because the matter is non-public.
The California-based firm’s IPO shouldn’t be anticipated to occur till the top of the yr, given market circumstances, the individual 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 purchasers, together with hedge funds, asset managers, and market makers. Based in 2018, it operates as a digital asset prime dealer, offering providers equivalent to 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 robust yr for IPOs after profitable listings by corporations equivalent to Circle (CRCL) and Bullish (BLSH), CoinDesk’s mother or father firm, helped rekindle investor urge for food for digital-asset companies in 2025.
Since then, nevertheless, deteriorating market circumstances, weaker buying and selling volumes and lackluster post-listing performances from newly public companies equivalent to BitGo (BTGO) have cooled enthusiasm for added crypto IPOs.
A number of main crypto corporations, together with Payward, Kraken’s mother or father firm; Ethereum software program developer Consensys; {hardware} pockets maker Ledger, and asset supervisor Grayscale, have since postponed their IPO plans whereas ready for market circumstances to enhance.
Some companies are nonetheless pushing forward with their plans to go public. Blockchain.com stated 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 will make it one of many few publicly traded companies primarily targeted on tokenized securities and real-world belongings.
Learn extra: Crypto IPOs may create large $1 trillion market amid tokenization wave, Jefferies says