At the 2024 Bitcoin Conference, Donald Trump announced his intention to establish the U.S. as a leading country in the cryptocurrency field. Following his recent election victory, he also declared the dismissal of SEC Chairman Gary Gensler.
Plans to Increase IPOs
Ram Ahluwalia, CEO of Lumida Wealth, stated in a Bits + Bips podcast that the IPO market will open up for companies like Circle and Chainalysis. Circle submitted its IPO application to the SEC in January, and CEO Jeremy Allaire confirmed their commitment to the process.
IPOs: Not for Every Company
Quynh Ho from GSR emphasized that the IPO process is not suitable for every company. She stated that stable profitability and the willingness to accept obligations are crucial for success.
Prospects for the Cryptocurrency Market
Karl Egbert, a lawyer at Baker & McKenzie, noted that a more crypto-friendly SEC will reduce regulatory risks for some firms. Companies like Anchorage Digital and NYDIG are considered promising IPO candidates due to their stable structures.
Trump's victory may lead to an increase in IPOs in the cryptocurrency sector. However, only certain companies with the appropriate characteristics are likely to benefit from going public.
