{"id":19887,"date":"2023-04-15T10:59:47","date_gmt":"2023-04-15T10:59:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/chia-network-files-for-ipo-with-the-sec-eyes-public-listing-bitcoin-news\/"},"modified":"2023-04-15T10:59:47","modified_gmt":"2023-04-15T10:59:47","slug":"chia-network-files-for-ipo-with-the-sec-eyes-public-listing-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/chia-network-files-for-ipo-with-the-sec-eyes-public-listing-bitcoin-news\/","title":{"rendered":"Chia Network Files for IPO With the SEC, Eyes Public Listing \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Friday, Chia Network Inc. announced that it had submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), requesting an initial public offering (IPO). The blockchain network company, founded by Bittorrent creator Bram Cohen, will initiate the IPO after the U.S. securities regulator approves the filing.<\/strong><\/p>\n

Bittorrent Creator\u2019s Chia Aims for an IPO<\/h2>\n

Bram Cohen\u2019s Chia network intends to go public and took a step in that direction on Friday, April 14, 2023, when the firm submitted a Form S-1 filing with the SEC. The blockchain and cryptocurrency project, launched in 2018, leverages storage for consensus through a mechanism called Proof of Space and Time (PoST), in contrast to Bitcoin\u2019s proof-of-work (PoW). PoST uses hard disk space as the foundation for its consensus algorithm. Chia\u2019s COO Gene Hoffman indicated<\/a> that the company had been focused on an IPO since May 2021.<\/p>\n

\"Chia
Chia\u2019s native token XCH rose more than 14% on the news concerning the IPO.<\/figcaption><\/figure>\n

On April 14, Chia announced<\/a> that it had confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission for the proposed initial public offering of its common stock. Chia\u2019s move follows a number of crypto tokens being declared<\/a> unregistered securities by the SEC. Chia has raised<\/a> a total of $71.12 million and obtained<\/a> $61 million in May 2021, in a Series D financing round led by Andreessen Horowitz and Richmond Global Ventures.<\/p>\n

Chia\u2019s native token XCH<\/a> rose 14.2% on the news, and during the past 24 hours, it has been trading at a range of $39.56 to $45.38 per coin. Over the last seven days, Chia\u2019s XCH has risen 19.3% against the U.S. dollar. However, XCH is 97% lower than the all-time high it set on May 15, 2021, when it reached $1,645 per unit. At the time of writing, XCH has a market capitalization of around $317 million and is ranked 143rd among thousands of other crypto market cap metrics.<\/p>\n

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All time high<\/a>, Andreessen Horowitz<\/a>, Bitcoin<\/a>, Blockchain<\/a>, Bram Cohen<\/a>, Chia Network<\/a>, Consensus Algorithm<\/a>, COO<\/a>, crypto market<\/a>, crypto tokens<\/a>, Cryptocurrency<\/a>, decentralized finance<\/a>, Digital Assets<\/a>, Digital Currency<\/a>, draft registration statement<\/a>, financing round<\/a>, Form S-1<\/a>, Gene Hoffman<\/a>, hard disk space<\/a>, initial public offering<\/a>, investor sentiment<\/a>, IPO<\/a>, Market Cap<\/a>, Market Capitalization<\/a>, Market Trends<\/a>, Native Token<\/a>, post<\/a>, Proof of Space and Time<\/a>, Public Listing<\/a>, Public Offering<\/a>, Richmond Global Ventures<\/a>, SEC<\/a>, Token value<\/a>, trading<\/a>, unregistered securities<\/a>, US Securities and Exchange Commission<\/a>, XCH<\/a><\/div>\n<\/div>\n

What do you think about Chia\u2019s decision to go public through an IPO? Share your thoughts about this subject in the comments section below.<\/strong> <\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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