Kopalnie Krypto Team - Wednesday 3 May 2023
World media are writing about Chia Network in the context of an IPO [PRESS REVIEW]
On April 14, 2023, the world received news that Chia Network had submitted a confidential S-1 registration statement to the U.S. Securities and Exchange Commission (SEC). The company is soon planning to make its initial public offering of shares. The IPO process aims to facilitate Chia's transition to a public company status.
The above news appeared in numerous globally influential media. Both portals that have been following the development of this project for some time and pages that haven't devoted enough attention to Chia wrote extensively about the significant step taken by the company's management. Mentions of the initiation of the IPO procedure appeared, among others, on portals such as Business Wire, Benzinga, Tokenist, CryptoSlate, Cointelegraph, Moneycontrol, Crypto News, and Decrypt. Similar information was provided by media outlets like Bloomberg, Bay Area Inno, The Information, CoinDesk, San Francisco Business Times, and Axios Pro.
Various editorial teams described the Chia blockchain as "decentralized," "green," and "environmentally friendly." The mere fact of submitting the application is seen as progressive and ambitious. While many large crypto companies believe that U.S. regulatory authorities are hostile towards cryptocurrencies and that the most sensible approach is to leave the USA, Chia is fighting for its position. As reported by Axios and other sources, the company has a good chance of being listed on the stock exchange. According to the portal Bitcoin.com, the XCH token jumped over 14% in just 24 hours on the news of the IPO.
We still haven't learned the details of Chia's offering - the proposed price range will likely remain a secret until the verification process by the SEC is completed. The company has long been vocal about its intention to become a reporting public entity. One of the reasons is to differentiate the company's shares from the Chia coins themselves. Of course, there are more reasons for this decision, such as the desire to provide maximum protection to current and future investors. SEC has 30 days to respond, which means Chia can expect preliminary feedback by mid-May.