Crypto exchange Blockchain.com It has secretly filed to go public in the US, becoming the latest cryptocurrency company to seek a public listing. Meanwhile, Ripple remains on the sidelines and has not indicated plans to go public anytime soon.
Cryptocurrency exchange files for IPO with Ripple remaining on the sidelines
According to A Reuters report, Blockchain.com It secretly filed for a US IPO with the Securities and Exchange Commission, officially kicking off the process of taking the cryptocurrency company public. The company joins He loves grayscale Another cryptocurrency exchange is Kraken, which is also seeking to go public in the US
It is worth noting, Blockchain.com It could become the fifth cryptocurrency exchange to go public in the US, joining Robinhood, Coinbase, Bullish and Gemini. Opens the transition to a confidential IPO filing A Regulatory review process It could take at least two to three months before the company goes ahead with its listing plans.
This may give the company enough time to plan a listing when the cryptocurrency market recovers. Crypto companies Consensys and Ledger were held They paused their IPO plans due to market conditions and are looking to go public once conditions improve. as, Blockchain.com A similar step can be taken to secure adequate financing during listing.
Blockchain.com It said it has not yet determined the number of shares it will offer or the price range for the proposed offering. However, this information will be available once the cryptocurrency company files its IPO registration statement with the SEC. It will also include other key information, such as the index and exchange you plan to list on.
It is also worth noting that these cryptocurrency companies are joining the likes of them Elon Musk SpaceX and OpenAI, which are eyeing a public listing. SpaceX could go public as soon as next month at a valuation of up to $1.75 trillion, making it the largest initial public offering in history.
Ripple still has no plans to go public
Ripple has so far indicated that it does not plan to go public even as other cryptocurrency companies eye public listings. Speaking at the XRP conference, Brad Garlinghouse, CEO of Ripple, said: There are no plans for an immediate listing, with the focus on institutional adoption as they look to onboard more organizations to their services.
However, in the meantime, Polymarket cryptocurrency prediction market platform It has launched prediction markets that provide retail investors with a way to learn about private companies like Ripple. These prediction markets are expected to track valuation milestones, IPO timing, and secondary market activity. Garlinghouse revealed that Ripple is currently valued at around $50 billion, based on its last share buyback in May.
Featured image from Getty Images, chart from Tradingview.com
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