Crypto trading firm FalconX confidentially files with SEC for IPO, hires bankers

FalconX has hired Cantor and other bankers to advise on a potential IPO and confidentially filed draft paperwork with the SEC, though the listing is not expected until later this year amid volatile market conditions. What to know : 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.