FalconX

FalconX is a digital asset prime brokerage founded in 2018 that serves hedge funds, asset managers, family offices, banks, and other financial institutions with trading, financing, and custody services. The company is headquartered in San Francisco and has raised $430 million across six funding rounds. Its most recent valuation was $8 billion, set in a $150 million funding round in 2022.

The company operates three core business lines. The first is a markets business where FalconX acts as a principal trading business or dealer, committing its own capital for clients. The second is custody and staking. The third is a prime brokerage direct-market-access business that provides institutional clients efficient entry into crypto markets. Think of it as a Goldman Sachs for digital assets: one counterparty handling trading, financing, and custody instead of forcing institutions to stitch together multiple vendors.

FalconX provides institutional clients access to global crypto liquidity for spot and derivatives trading via request-for-quote, API, or personalized support. It also offers bespoke over-the-counter derivatives for hedging risk and generating yield. FalconX Bravo, a FalconX affiliate, was the first CFTC-registered swap dealer focused on cryptocurrency derivatives. This regulatory designation matters because it allows FalconX to serve US institutions in the derivatives market with the compliance infrastructure they require.

FalconX completed over $1.5 trillion in trading volume by the end of 2023 and served more than 600 institutional clients. Revenue in Q2 2024 increased 2.5 times compared to the same period in 2023. This growth rate is not just a crypto bull market story. It reflects structural demand from institutions needing a regulated, capitalized counterparty to access digital asset markets at scale.

FalconX’s acquisition activity in 2025 shows a company aggressively expanding its product footprint. In January 2025, FalconX acquired Arbelos Markets, a trading firm specializing in crypto derivatives, reinforcing its position as one of the largest crypto derivatives dealers. The company then acquired 21shares, a leading cryptocurrency exchange-traded product provider. 21shares will keep its team and operate independently under FalconX, with plans to launch 18 US funds and expand into the Middle East and Asia. In June 2025, FalconX made a majority stake investment in Monarq Asset Management to strengthen its capabilities in actively managed digital asset strategies.

FalconX is backed by Accel, Adams Street Partners, Altimeter Capital, American Express Ventures, B Capital, GIC, Lightspeed Venture Partners, Sapphire Ventures, Thoma Bravo, Tiger Global Management, and Wellington Management. The presence of Singapore’s sovereign wealth fund GIC alongside Tiger Global and Thoma Bravo is significant. These are not crypto-native venture funds making speculative bets. They are institutional capital allocators treating FalconX as serious financial infrastructure.

FalconX is a private company, and its shares do not trade on any public stock exchange. The firm has held early-stage talks about going public and could file to go public as soon as 2025 or 2026, according to sources familiar with the matter. If you want exposure to FalconX ahead of a potential IPO, you can do so by buying FalconX pre-IPO stock, direct shares, or SAFE notes from the FalconX team or existing shareholders. Acquire.Fi’s OTC and Secondaries Marketplace is built for exactly this purpose.

You can buy FalconX pre-IPO stock on Acquire.Fi by engaging with existing sell listings or by submitting a new Buy listing with your preferred valuation and share amount.

You can also sell FalconX pre-IPO stock if you hold a position and want to exit before any public listing. Browse existing Buy listings for a match, or submit a new Sell listing with your asking price and the number of shares you want to move.

Acquire.Fi handles everything from that point. The team conducts background checks, sends NDAs, and introduces both parties. Due diligence and payment settlement are yours to manage, but Acquire.Fi will step in wherever it can to keep the deal moving.