IPO – Coin Network News https://coinnetworknews.com If it's coin, it's news. Fri, 23 Feb 2024 05:11:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 Reddit Embraces Crypto: IPO Filing Reveals Bitcoin, Ether Investments https://coinnetworknews.com/reddit-embraces-crypto-ipo-filing-reveals-bitcoin-ether-investments/ https://coinnetworknews.com/reddit-embraces-crypto-ipo-filing-reveals-bitcoin-ether-investments/#respond Fri, 23 Feb 2024 05:11:31 +0000 https://coinnetworknews.com/reddit-embraces-crypto-ipo-filing-reveals-bitcoin-ether-investments/ Reddit Embraces Crypto: IPO Filing Reveals Bitcoin, Ether InvestmentsReddit Inc. has disclosed cryptocurrency investments in its initial public offering (IPO) filing with the U.S. Securities and Exchange Commission (SEC). The social media giant noted that as of the end of December last year, “we did not hold digital assets other than bitcoin and ether for treasury purposes, and our investment policy requires approval […]

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]]> https://coinnetworknews.com/reddit-embraces-crypto-ipo-filing-reveals-bitcoin-ether-investments/feed/ 0 Chia Network Submits Registration to U.S. SEC For Proposed IPO https://coinnetworknews.com/chia-network-submits-registration-to-u-s-sec-for-proposed-ipo/ https://coinnetworknews.com/chia-network-submits-registration-to-u-s-sec-for-proposed-ipo/#respond Sat, 15 Apr 2023 12:27:23 +0000 https://coinnetworknews.com/chia-network-submits-registration-to-u-s-sec-for-proposed-ipo/
The size and price range for the offering has yet to be determined.

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]]> https://coinnetworknews.com/chia-network-submits-registration-to-u-s-sec-for-proposed-ipo/feed/ 0 Chia Network Files for IPO With the SEC, Eyes Public Listing – Bitcoin News https://coinnetworknews.com/chia-network-files-for-ipo-with-the-sec-eyes-public-listing-bitcoin-news/ https://coinnetworknews.com/chia-network-files-for-ipo-with-the-sec-eyes-public-listing-bitcoin-news/#respond Sat, 15 Apr 2023 11:53:28 +0000 https://coinnetworknews.com/chia-network-files-for-ipo-with-the-sec-eyes-public-listing-bitcoin-news/
Chia Network Files for IPO with the SEC, Eyes Public Listing

On Friday, Chia Network Inc. announced that it had submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), requesting an initial public offering (IPO). The blockchain network company, founded by Bittorrent creator Bram Cohen, will initiate the IPO after the U.S. securities regulator approves the filing.

Bittorrent Creator’s Chia Aims for an IPO

Bram Cohen’s Chia network intends to go public and took a step in that direction on Friday, April 14, 2023, when the firm submitted a Form S-1 filing with the SEC. The blockchain and cryptocurrency project, launched in 2018, leverages storage for consensus through a mechanism called Proof of Space and Time (PoST), in contrast to Bitcoin’s proof-of-work (PoW). PoST uses hard disk space as the foundation for its consensus algorithm. Chia’s COO Gene Hoffman indicated that the company had been focused on an IPO since May 2021.

Chia Network Files for IPO With the SEC, Eyes Public Listing
Chia’s native token XCH rose more than 14% on the news concerning the IPO.

On April 14, Chia announced that it had confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission for the proposed initial public offering of its common stock. Chia’s move follows a number of crypto tokens being declared unregistered securities by the SEC. Chia has raised a total of $71.12 million and obtained $61 million in May 2021, in a Series D financing round led by Andreessen Horowitz and Richmond Global Ventures.

Chia’s native token XCH rose 14.2% on the news, and during the past 24 hours, it has been trading at a range of $39.56 to $45.38 per coin. Over the last seven days, Chia’s XCH has risen 19.3% against the U.S. dollar. However, XCH is 97% lower than the all-time high it set on May 15, 2021, when it reached $1,645 per unit. At the time of writing, XCH has a market capitalization of around $317 million and is ranked 143rd among thousands of other crypto market cap metrics.

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All time high, Andreessen Horowitz, Bitcoin, Blockchain, Bram Cohen, Chia Network, Consensus Algorithm, COO, crypto market, crypto tokens, Cryptocurrency, decentralized finance, Digital Assets, Digital Currency, draft registration statement, financing round, Form S-1, Gene Hoffman, hard disk space, initial public offering, investor sentiment, IPO, Market Cap, Market Capitalization, Market Trends, Native Token, post, Proof of Space and Time, Public Listing, Public Offering, Richmond Global Ventures, SEC, Token value, trading, unregistered securities, US Securities and Exchange Commission, XCH

What do you think about Chia’s decision to go public through an IPO? Share your thoughts about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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]]> https://coinnetworknews.com/chia-network-files-for-ipo-with-the-sec-eyes-public-listing-bitcoin-news/feed/ 0 Chia Network says it submitted IPO registration to SEC after leadership shuffle https://coinnetworknews.com/chia-network-says-it-submitted-ipo-registration-to-sec-after-leadership-shuffle/ https://coinnetworknews.com/chia-network-says-it-submitted-ipo-registration-to-sec-after-leadership-shuffle/#respond Sat, 15 Apr 2023 10:46:22 +0000 https://coinnetworknews.com/chia-network-says-it-submitted-ipo-registration-to-sec-after-leadership-shuffle/

The Chia Network blockchain said on April 14 that it had submitted a proposal for an initial public offering (IPO) to the United States Securities and Exchange Commission (SEC). The size and price range of the offering have not been determined, the company said. The proposal was submitted confidentially, and the announcement was made under a Securities Act of 1933 rule to allow limited information to be released to measure investor response.

The Chia Network is a decentralized smart contract platform that uses a novel consensus protocol based on data storage space. It claims the network has lower energy consumption than blockchains that use proof-of-work consensus and can re-utilize worn storage hardware. BitTorrent founder Bram Cohen created the Chia Network in 2017.

Despite some questions about the network’s green claims, the company raised $61 million in a funding round in 2021 with backers that included Andreessen Horowitz, Richmond Global Ventures and other venture capitalists. The company was reportedly valued at $500 million at that time.

Related: The most eco-friendly blockchain networks in 2022

Cohen served as Chia Network CEO until January when he transitioned to the roles of chairman and chief technology officer. Cohen was replaced as CEO by Gene Hoffman, who moved up from chief operating officer.

Hoffman told Bloomberg at the time of his promotion that the company would file for an IPO “soon,” but he did not foresee the offering taking place this year. “This market is not going to be open for us,” he said.

The crypto market reacted positively to the Chia Network announcement, with the native Chia (XCH) token rising from $40.68 at the beginning of the U.S. workday to $45.35 at the time of writing, according to CoinMarketCap.

Meanwhile, Singapore-based crypto miner Bitdeer made its premier on Nasdaq on April 14 in a much-delayed move that has been in the works since 2021. Bitdeer shares fell 18% in trading by 9:33 am Eastern Time that day.

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