Crypto Exchange Eyes IPO This Year: Report

  • is talking with banks about how it could hold an initial public offering this year, Bloomberg reported.
  • The $14 billion crypto exchange’s IPO timeline could be 2023 as its plans could change, according to Bloomberg.
  • Binance.US is eyeing an IPO, and Coinbase was the first crypto exchange to go public last year.

Crypto exchange is talking with banks about an initial public offering that could be launched before the end of 2022, Bloomberg reported on Tuesday.

Talks are in their early stages and the exchange could still change its plans, people familiar with the matter told Bloomberg. The IPO may not happen until next year if it goes ahead, they said, according to the report, which did not say where the listing might be.

London-based, founded in 2011, is one of the largest crypto exchanges in the world and was valued at $14 billion in a funding round in March. The company did not respond to a request for insider comment.

When Coinbase became the first crypto exchange to go public in a $100 billion Nasdaq IPO a year ago, the move was hailed as a turning point for the industry. Since then, crypto exchange Kraken said in June that it was also considering a public launch.

Similarly, the US arm of Binance said in September that it plans to debut on the exchange within the next three years.

“If the company can grow steadily over the next three years, then three years should be enough for an IPO, but if there’s a prolonged bear market for, I don’t know, maybe three or five years, then it may be a little bit longer,” Binance CEO Changpeng Zhao said at the time.

A third of the bitcoin network’s transactions take place on, and it has about 37 million verified users, the company said on its website.

Global IPO activity fell significantly in the first quarter of 2022 compared to a year earlier, according to EY data. It revealed that there were 321 deals generating $54.4 billion, down 37% and 51%, respectively.

While January 2022 had been the strongest opening month for IPO proceeds in over two decades, overall activity declined significantly later in the quarter due to volatile market conditions. . Markets were troubled by the Federal Reserve’s plan for several interest rate hikes and Russia’s war against Ukraine.

Read more: An exclusive European multi-family office began exploring blockchain investing in 2017. Its fund manager explains how he made high-conviction bets on big names in crypto VCs — and identifies 2 under-the-radar companies you should know about.

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Crypto Exchange Eyes IPO This Year: Report

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