ChainCatcher News, Yoshitaka Kitao, CEO of the major Japanese financial services firm SBI Holdings, recently responded to a post celebrating XRP's rise to the sixth largest cryptocurrency by market capitalization on X, stating that once the SEC issues are resolved, Ripple should prepare for an IPO as soon as possible.SBI Holdings has been collaborating with Ripple since 2017 to promote innovations in cross-border payments. Kitao has been a key figure in the Ripple-SBI partnership, joining Ripple's board in April 2019. His long-term support for Ripple and XRP dates back to 2017 when he predicted XRP as the global standard for digital currencies, emphasizing its efficiency, low transaction costs, and scalability.However, Ripple CEO Brad Garlinghouse has previously downplayed the urgency of seeking an IPO. He emphasized the company's strong financial position and stated that Ripple currently does not need to raise funds through the public markets. Additionally, Garlinghouse pointed out that the regulatory environment in the U.S. is challenging, largely influenced by the ongoing disputes with the U.S. SEC, which have hindered IPO plans. Although Ripple has explored the prospects of an international IPO, such initiatives remain on hold.

ChainCatcher news, closed-end investment company C1 Fund Inc. submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) on November 12, planning to raise $100 million through an initial public offering (IPO). The fund will invest at least 80% of its total assets in equity and equity-related securities of companies in the digital asset services and technology sectors, focusing on the top 30 leading companies in this field.C1 Fund is headquartered in Palo Alto, California, co-founded by Dr. Najamul Kidwai, who serves as President and CEO. The fund plans to list on the New York Stock Exchange and will be advised by C1 Advisors LLC, also based in Palo Alto.Dr. Kidwai stated that the fund aims to provide institutional and retail investors with the opportunity to invest in globally leading digital asset services and technology companies, achieving investment objectives by maximizing total returns. The registration statement is not yet effective, and the related stock issuance is subject to SEC review.

ChainCatcher news, Stronghold Digital has agreed to pay $4.75 million and 25 bitcoins to settle a class action lawsuit accusing it of exaggerating its bitcoin mining capabilities during its 2021 IPO. According to court documents, the settlement agreement was reached after a year of mediation and will be paid in installments over the next 24 months in bitcoin.The lawsuit was filed in April 2022 by plaintiffs in the Southern District of New York. Under the proposed settlement agreement, Stronghold and the underwriters (the group of investment banks responsible for Stronghold's 2021 IPO) agreed to pay compensation in cash and bitcoin after a year of mediation. The value of the bitcoin portion is based on the current bitcoin price (around $90,000), amounting to approximately $2.2 million.

ChainCatcher news, according to BeInCrypto, ARK Invest expressed optimism in its latest communication that Trump's return to the White House could allow digital asset companies like Circle and Kraken to go public and achieve regulatory clarity.ARK Invest stated, "Possibilities include reopening the initial public offering (IPO) window for digital asset companies like Circle and Kraken." The firm noted that potential legislative reforms, such as the Financial Innovation and Technology for the 21st Century Act (FIT21), could clarify regulatory provisions for stablecoins and digital assets. Additionally, the asset management company expects that the "enforcement regulatory" approach of SEC Chairman Gary Gensler will come to an end, which could create a more competitive environment for cryptocurrency companies.

ChainCatcher news, according to The Information, industry insiders say that investment bankers from top Wall Street firms like JPMorgan, Goldman Sachs, and Morgan Stanley have been meeting with cryptocurrency executives, hoping to gain insights into potential initial public offerings (IPOs) that cryptocurrency companies may pursue after the elections. This enthusiasm reflects optimism about improved market and regulatory conditions following Donald Trump's victory in the U.S. presidential election, which could pave the way for companies like Kraken, Fireblocks, and Chainalysis to go public.It is reported that bankers' interest in the meetings is also different from much of the past two years, during which many investment banks considered the risks associated with cryptocurrency companies too high to engage in business.

ChainCatcher news, according to market news, the European cryptocurrency platform Bitpanda is considering potential options such as an IPO or sale.

ChainCatcher news, mining company Ionic Digital has restarted its IPO plans after appointing BDO USA as its new auditor. As of September 30, 2024, it holds 2,102.29 BTC, valued at $135.3 million.In addition, Ionic Digital announced the activation of a second building at its facility in Ward County, Texas, increasing its total load capacity to 140 megawatts. The new facility houses 15,552 Bitcoin mining machines.

ChainCatcher news, according to Bloomberg, online lending institution K Bank has withdrawn its initial public offering (IPO) of over $700 million in Seoul. The company had originally planned to price the offering on Friday and was set to go public on October 30. A successful listing would have made it the largest IPO in South Korea in more than two and a half years, with a valuation of up to 50 trillion won ($3.6 billion) for the bank. The bank plans to resume its IPO early next year.The withdrawal occurred amid concerns about its valuation and its reliance on deposits from cryptocurrency exchanges. K Bank rapidly expanded its customer base by partnering with Upbit, South Korea's largest cryptocurrency exchange, but the contract with the exchange is set to expire in October next year.As of the end of June, deposits from Upbit accounted for 16.8% of K Bank's total deposits. K Bank stated in its IPO prospectus that failing to extend its partnership with key strategic partners could weaken the competitiveness of its platform.

ChainCatcher news, according to Cointelegraph, Bitcoin financial services company Fold has submitted an S-4 filing to the U.S. Securities and Exchange Commission in preparation for going public. Fold's treasury currently holds over 1,000 BTC.

ChainCatcher news, South Korean virtual asset exchange Bithumb announced at a temporary shareholders' meeting that it is considering listing on the Nasdaq in the United States. Bithumb is currently seeking an initial public offering (IPO), aiming to go public in the second half of next year, with Samsung Securities as the lead underwriter.Earlier this year, Bithumb passed a personnel spin-off resolution, planning to transfer new businesses to a newly established company to enhance the chances of a successful IPO. Previously, Bithumb attempted to list on the KOSDAQ market in South Korea in 2020 but abandoned the effort due to unclear regulations. Currently, Bithumb is exploring various listing possibilities both domestically and internationally.Additionally, on the same day, Bithumb's temporary shareholders' meeting approved a single proposal to rename the virtual asset exchange operating entity Bithumb Korea to Bithumb. Bithumb stated that it plans to enhance its visibility through the unification of the company name and service name.

ChainCatcher news, according to Cointelegraph, the founder and CEO of stablecoin USDC issuer Circle, Jeremy Allaire, stated that they are advancing their initial public offering (IPO) plans and intend to move their headquarters to Wall Street in 2025.It is reported that Circle applied for an initial public offering (IPO) in January this year and is currently awaiting approval from the U.S. Securities and Exchange Commission.

ChainCatcher news, Animoca Brands co-founder Yat Siu stated that Hong Kong is a "strong contender" option for the potential listing of the crypto venture capital and blockchain game developer Animoca Brands Corp.Siu, in an interview at a conference in Singapore, mentioned that part of the reason is that the company's headquarters is based in Singapore, where officials are seeking to develop a crypto hub, and activities related to digital assets have expanded.However, he noted on Wednesday that any IPO plans may take "years to really materialize," with the current focus on building the business.Siu told the South China Morning Post last month that Animoca's shares are valued between $1.5 billion and $3 billion in the secondary market. In contrast, the company was valued at $5.9 billion in a funding round in 2022.Siu added that the company is not seeking to raise new funds. (Bloomberg)

ChainCatcher news, according to Protos, Swan Bitcoin CEO Cory Klippsten explained the reasons for pausing the IPO and large-scale layoffs.Cory Klippsten stated: "The IPO plan was put on hold due to disagreements with a major financing partner for the custody mining business, leading to an inability to achieve the expected cash flow in the short term. Swan increased marketing expenses and hired more employees in anticipation of submitting IPO documents for SEC approval, but as the reasons for the large expenditures and funding disappeared, we had to cut back on marketing and personnel."Previous news, the Bitcoin financial services company Swan Bitcoin has abandoned its plans for a public listing, closed its managed mining department, and laid off employees in multiple departments.

ChainCatcher news, Hong Kong Web3 venture capital firm Animoca is weighing various options for a potential return to the public market after its delisting from the Australian Securities Exchange in 2020. The company stated that it is considering an initial public offering in Hong Kong or the Middle East by the end of 2025 or early 2026.Animoca Brands Chairman Yat Siu mentioned that the company has not yet selected advisors for a potential IPO, but Animoca intends to conduct a non-deal roadshow in September as part of its preparations. The non-deal roadshow allows investors to learn about the company's current initiatives and future plans, such as the IPO, without selling securities.

ChainCatcher news, according to CoinDesk, Bitcoin miner Ionic Digital, which purchased all mining assets of the bankrupt lending institution Celsius, has postponed its listing plans.The company stated in a statement on Thursday that former CEO Matt Prusak announced in July that he would step down after his term ends on August 14. Ionic has begun searching for a new CEO and has appointed recently hired Chief Financial Officer John Penver as interim CEO.In July, Ionic hired Penver to oversee the company's listing plans. Ionic stated that despite the leadership changes, the company still intends to proceed with the IPO and is confident in achieving this goal. Ionic also mentioned that its collaboration with auditing firm RSM US has ended, citing a strategic decision by the firm to cease providing services to crypto companies. Ionic added that it has made good progress in finding an alternative auditing firm.According to previous reports, earlier this year, Ionic Digital acquired all mining assets of Celsius as part of Celsius's exit from Chapter 11 bankruptcy proceedings.

ChainCatcher News: Japanese listed company Mixi announced that its equity affiliate, cryptocurrency exchange BitBank, is preparing for an IPO. In addition to needing approval from relevant authorities for the stock listing, the planned timing and market for the IPO have not yet been determined, and there is a possibility that the IPO may be suspended during the preparation process. Currently, MIXI Corporation holds 26.99% of the shares, Ceres Corporation holds 23.05% of the shares, and the representative director and CEO of BitBank Inc. holds 30.69% of the shares.

According to ChainCatcher news, citing informed sources from Coindesk, shares of Circle Internet Financial, which is privately held, are trading in the secondary market, with prices indicating a valuation of the stablecoin issuer between $5 billion and $5.25 billion ahead of its planned initial public offering.One informed source stated that the sellers are early investors or Circle employees who are withdrawing for liquidity reasons. Before the company goes public, employees typically have the opportunity to cash out their stock options. Two informed sources indicated that the company does not allow transactions below a $5 billion valuation.