Circle’s public listing intentions are unaffected by recent SEC actions
The head of a cryptocurrency consulting business recently warned that the present climate makes it difficult for companies in the crypto industry to go public.
Circle, a crypto payments technology business, and others like it are unfazed by the current SEC lawsuit against publicly listed company Coinbase.
An industry expert warned that the present climate would make the road to public listing difficult for most enterprises.
This week, a corporate spokesman and a recently posted job position confirmed that an IPO is still on the table for Circle.
These ambitions are also mentioned in a corporate counsel job description posted two weeks ago at Circle.
Despite the SEC’s newest lawsuit against Coinbase, the business still intends to achieve its objectives. Coinbase has been a publicly traded corporation for almost two years.
In April of 2021, Coinbase became public when its registration on Form S-1, the first registration paperwork for new securities, was “declared effective” by the SEC.
A representative for Galaxy Digital confirmed on Friday that the business still intends to register in Delaware and then list on the Nasdaq, as was previously stated in March. The SEC is reviewing the company’s most recent revised registration, filed in February.
Eric Risley, a founder of crypto consultancy company Architect Partners, has noted that the present atmosphere may be challenging for most startups seeking an IPO.
In an email to Blockworks, he outlined the basics needed for a successful IPO: “strong business momentum and a positive, or at least stable, business environment.” While every business is different, it’s generally accepted that these conditions still need to be created. Until that changes, most companies must put their IPO plans on hold.