Cryptocurrency trading company FalconX has filed for an IPO with the U.S. Securities and Exchange Commission (SEC).

CoinFeed reported on May 29th that, according to The Block, cryptocurrency trading firm FalconX has secretly filed a draft S-1 registration statement with the U.S. Securities and Exchange Commission, marking a first step towards a potential IPO. Sources familiar with the matter stated that FalconX has hired Wall Street giant Cantor and other banks as IPO advisors. Due to volatile market conditions, the company's IPO is not expected to be completed before the end of the year. Founded in 2018, FalconX primarily provides digital asset bulk brokerage services to institutional clients such as hedge funds, asset management companies, and market makers. In 2022, it completed a $150 million Series D funding round at a valuation of $8 billion.