Ah, dear reader, prepare thyself for a tale of ambition, cryptocurrency, and the enigmatic figure of Donald Trump.
Our story begins with the cryptocurrency custodian, BitGo, who, in the year 2025, dared to dream of an initial public offering (IPO).
😲 Crypto Unicorn BitGo Mulls Going Public: A Twist in the Tale!
Rumors swirled like autumn leaves, as it was whispered that discussions were underway with potential advisors. However, no final decision had been made, and BitGo remained tight-lipped about their IPO plans.
Founded in 2013, BitGo has grown into a leading crypto custodian, with over 1,500 institutional clients across more than 50 countries. The company offers various services, including crypto custody, trading, borrowing, and lending.
It processes approximately 8% of all global Bitcoin transactions, further solidifying its status as a major player in the industry. More recently, BitGo revealed an important milestone for the crypto custodian.
“BitGo now secures over $100 billion in assets under custody, earning the top spot as the world’s leading independent custodian,” the announcement read.
Meanwhile, BitGo’s IPO aspirations align with a broader trend of crypto firms preparing to go public. They appear to be capitalizing on what industry insiders describe as a favorable regulatory environment emerging under the Trump administration.
The Winklevoss twins’ cryptocurrency exchange Gemini is exploring an IPO with Bullish Global, a platform backed by billionaire Peter Thiel.
Kraken and stablecoin issuer Circle are also evaluating IPO opportunities. Ark Invest recently stated that a “window” for crypto companies to go public has opened under the Trump administration.
“Among the possibilities are…the re-opening of the initial public offering (IPO) window for late-stage digital asset companies like Circle and Kraken…,” read a paragraph in Ark Invest’s newsletter.
Meanwhile, European crypto platform Bitpanda is also weighing its options for an IPO or sale at a $4 billion valuation. This momentum in crypto IPOs reflects the industry’s increasing mainstream acceptance despite past regulatory uncertainties.
Elsewhere, BitGo’s CEO, Mike Belshe, has been an outspoken supporter of Donald Trump’s policies on digital assets. In July 2024, Belshe hosted a fundraising event for Trump’s presidential campaign, featuring the Republican nominee’s running mate, JD Vance. They highlights the close ties between BitGo’s leadership and the US president.
And so, dear reader, we find ourselves at the end of our tale, with BitGo’s IPO aspirations hanging in the balance, much like the fate of cryptocurrency itself. Will they succeed in their quest for public recognition, or will they be thwarted by unforeseen circumstances? Only time will tell…
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2025-02-12 12:18