[Crypto Trading Firm FalconX Submits IPO Application to the U.S. SEC] According to The Block, crypto trading firm FalconX has confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), marking the first step toward a potential public listing. Sources familiar with the matter revealed that FalconX has hired Wall Street giant Cantor and other banks as its IPO advisors. Due to market volatility, the company's IPO is not expected to be completed before the end of the year. Founded in 2018, FalconX primarily provides institutional clients such as hedge funds, asset management firms, and market makers with digital asset prime brokerage services. In 2022, the company completed a $150 million Series D funding round at an $8 billion valuation.