Chia Network Files Confidentially for IPO, XCH Jumps 13%
Main page News, Stocks, IPO, Blockchain, Crypto Market

Blockchain eco-focused startup Chia Network (XCH) has confidentially submitted a draft registration form to the US Securities and Exchange Commission (SEC) regarding the proposed initial public offering of its stocks.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

According to a press release published on Friday, the size and price range for the IPO are yet to be determined, as the offering is pending regulatory approval. After the news broke, Chia's native token XCH jumped 13% to $44.5, according to data from CoinGecko.

Chia's Bram Cohen Steps Down as CEO, Focuses on Tech Side

Founded in 2017, Chia Network raised a total of $69.7 million from 19 investors at $500 million valuation, according to data from Crunchbase. The project raised funds from Andreessen Horowitz, Richmond Global Ventures, Slow Ventures and others.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error