GuShiio.com Crypto companies that may be considering going public include Circle, Kraken, Ripple, BitGo, Bullish and Gemini.
Author: Tim Craig, DL News
Compiled by: Felix, PANNews (this article has been deleted)
The soaring market under the leadership of U.S. President Trump and the arrival of a new era of encryption have injected vitality into the strategies of crypto companies.
In the past few years, life has not been easy for crypto companies.
First, the U.S. Securities and Exchange Commission (SEC) led by Chairman Gary Gensler has sued many companies.
Companies that are not involved in legal disputes face scrutiny over whether the crypto assets they issue or offer to trade should be considered securities.
But since Trump entered the White House and Gary resigned, companies including Gemini of the Winklevoss twins and Bullish, backed by Peter Thiel, have hinted at going public.
Here are some of the head crypto companies that are or are considering IPOs.
Circle
Circle is the company behind USDSC, a $55 billion stablecoin, which tried to go public in 2022 but failed to do so. An IPO application was filed with the U.S. SEC in January last year.
Now, more than 13 months have passed, and the U.S. SEC is still reviewing Circle’s application.
Since submitting the application, Circle CEO Jeremy Allaire has repeatedly stated that the company is committed to going public.
In September last year, Allaire announced that his company would move its headquarters to New York ahead of its planned IPO.
Allaire tweeted: “It’s clear that we need to plant our flag in the heart of Wall Street, both literally and symbolically.”
A Circle spokesperson declined to comment on the company’s IPO registration process, but becoming a public company has always been part of its core strategy.
Kraken
Since rival crypto exchange Coinbase launched its initial public offering in April 2021, smaller rival Kraken has been eager to follow suit.
Kraken’s then-CEO Jesse Powell said in June of that year that the exchange planned to go public within 18 months.
But Jesse Powell resigned as CEO in September the following year, and the exchange’s IPO plans appeared to have died.
In 2024, Kraken will consider going public again. Sources told Bloomberg in June that the exchange was considering raising $100 million through a pre-IPO funding round. As of January this year, Kraken had only raised approximately $27 million in initial capital.
Arjun Sethi, Kraken co-CEO, said: “If we want to, we can choose to raise funds or borrow money.” “Whether we are private or listed, we can take all the ways to obtain capital.”
Gemini
Like Kraken, Gemini, the cryptocurrency exchange run by Bitcoin billionaires Cameron and Tyler Winklevoss, hinted at an IPO as early as 2021.
“We are definitely thinking about this and making sure we have the option,” Cameron Winklevoss told Bloomberg at the time.
A year later, the cryptocurrency market plummeted due to the collapse of Terra blockchain, crypto lender Celsius and Sam Bankman-Fried’s FTX, and Gemini finally shelved the idea.
Now the twins are reportedly restarting Gemini’s IPO plans.
Anonymous sources told Bloomberg that the cryptocurrency exchange and custodian are in talks with potential listing advisers about a listing.
Ripple
XRP publisher Ripple is another well-known company that may go public under the Trump administration.
In 2022, Ripple CEO Brad Garlinghouse told CNBC that Ripple would consider going public once the legal dispute between Ripple and the SEC over whether the sale of its XRP tokens was an illegal securities issuance is concluded.
In 2024, Brad Garlinghouse said the company had explored markets outside the United States for an IPO, but eventually shelved the plan.
Although Judge Analisa Torres ruled last year that XRP is not a security, the U.S. SEC has appealed the ruling.
Still, with the protracted legal dispute now entering its final stages, Ripple’s long-awaited IPO may be just around the corner.
Bullish
CoinDesk owner and cryptocurrency exchange Bullish is another company that has been watching IPOs.
In 2021, the company also announced its intention to go public through SPAC, but shelved those plans.
For years, rumors about a Bullish IPO have not been heard. Now, an anonymous source told Bloomberg that the exchange is again considering an initial public offering as early as this year.
BitGo
On February 12, Bloomberg reported that U.S. crypto hosting company BitGo is considering an initial public offering (IPO) as early as the second half of 2025. A person familiar with the situation said the California-based company was in talks with potential advisers to go public as early as the second half of this year.
BitGo raised US$100 million in 2023 with a valuation of US$1.75 billion. Investors include Goldman Sachs, DRW Holdings, Redpoint Ventures and Valor Equity Partners.
BitGo provides crypto asset custody, trading, lending and other services to more than 1500 institutional customers in more than 50 countries around the world, and handles approximately 8% of global Bitcoin transactions.
It is worth mentioning that several crypto companies are expected to go public.
Asset manager Bitwise said in its 2025 forecast report that crypto technology company Figure, crypto infrastructure company Anchorage Digital and blockchain analytics company Chainalysis are all likely to go public this year.
In addition, encryption infrastructure provider Fireblocks is also considering going public, but for a longer time. Fireblocks CEO Michael Shaulov said in an interview last year: “We are in no hurry to go public.” “From an optional perspective, this is definitely something we would consider. Maybe in two or three years.”
Related reading: Japan exchange Coincheck will register on Nasdaq, will the Trump administration give a “green light” for more crypto company IPOs?
