Chia Network Files for IPO With the SEC, Eyes Public Listing

On Friday, Chia Network Inc. announced that it had submitted a draught registration connection connected Form S-1 to the U.S. Securities and Exchange Commission (SEC), requesting an archetypal nationalist offering (IPO). The blockchain web company, founded by Bittorrent creator Bram Cohen, volition initiate the IPO aft the U.S. securities regulator approves the filing.

Bittorrent Creator’s Chia Aims for an IPO

Bram Cohen’s Chia web intends to spell nationalist and took a measurement successful that absorption connected Friday, April 14, 2023, erstwhile the steadfast submitted a Form S-1 filing with the SEC. The blockchain and cryptocurrency project, launched successful 2018, leverages retention for statement done a mechanics called Proof of Space and Time (PoST), successful opposition to Bitcoin’s proof-of-work (PoW). PoST uses hard disk abstraction arsenic the instauration for its statement algorithm. Chia’s COO Gene Hoffman indicated that the institution had been focused connected an IPO since May 2021.

Chia’s autochthonal token XCH roseate much than 14% connected the quality concerning the IPO.

On April 14, Chia announced that it had confidentially submitted a draught registration connection connected Form S-1 to the U.S. Securities and Exchange Commission for the projected archetypal nationalist offering of its communal stock. Chia’s determination follows a fig of crypto tokens being declared unregistered securities by the SEC. Chia has raised a full of $71.12 cardinal and obtained $61 cardinal successful May 2021, successful a Series D financing circular led by Andreessen Horowitz and Richmond Global Ventures.

Chia’s autochthonal token XCH roseate 14.2% connected the news, and during the past 24 hours, it has been trading astatine a scope of $39.56 to $45.38 per coin. Over the past 7 days, Chia’s XCH has risen 19.3% against the U.S. dollar. However, XCH is 97% little than the all-time precocious it acceptable connected May 15, 2021, erstwhile it reached $1,645 per unit. At the clip of writing, XCH has a marketplace capitalization of astir $317 cardinal and is ranked 143rd among thousands of different crypto marketplace headdress metrics.

What bash you deliberation astir Chia’s determination to spell nationalist done an IPO? Share your thoughts astir this taxable successful the comments conception below.

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