FalconX has secretly filed for an IPO and has hired Wall Street investment banks including Cantor to advise on the listing.

BlockBeats News, May 29th, according to sources familiar with the matter, cryptocurrency exchange and brokerage firm FalconX has secretly submitted an S-1 draft registration statement to the U.S. SEC and hired investment banks including Cantor Fitzgerald to advise on its IPO. However, due to market volatility, FalconX is expected to delay its public listing until later this year.

FalconX, founded in 2018, primarily provides digital asset trading, liquidity, clearance, and credit services to hedge funds, asset management firms, and market makers. The company raised $150 million in a Series D funding round in 2022, valuing it at $8 billion at that time.

Reports indicate that as market sentiment cools, trading volumes decline, and some post-listing performances of crypto IPOs weaken, including several crypto companies such as Kraken's parent company Payward, Consensys, Ledger, and Grayscale, have all postponed their listing plans. At the same time, Blockchain.com also secretly filed for a U.S. IPO last week.