President Trump's tariffs could hinder cryptocurrency IPOs
President Trump's reciprocal tariffs have
'All of them will pull': Experts warn Trump's tariffs will likely derail crypto IPO plans | The Block
https://www.theblock.co/post/349661/all-of-them-will-pull-experts-warn-trumps-tariffs-will-likely-derail-crypto-ipo-plans
Austin Campbell, CEO of payments technology company WSPN and an adjunct lecturer at New York University's Stern School of Business, said in a statement to The Block that companies that were planning to go public would likely back out of the plan due to the impact of the tariffs. 'Every company will pull back. You can't do an IPO when the market is collapsing, like in 2008,' he said.
According to Campbell, the situation is particularly tough for crypto companies, who have seen fewer IPOs, with Swedish
Circle , the issuer of the stablecoin USDC, has also just submitted Form S-1, required for an IPO, to the SEC. However, the chances of it actually going public are low. Even on prediction site Polymarket, it has been reported that the popularity of the idea that 'Circle will go public in 2025' is declining.
Gene Hoffman, CEO of Chia Network, the issuer of the cryptocurrency Chia, told The Block, 'It's certainly a tough market, and it's not surprising that any new technology growth stock is cautious,' and that the company is looking to list in a favorable regulatory environment.
In 2021, Trump was an anti-cryptocurrency advocate who called Bitcoin a 'scam,' but after receiving approximately $50 million (approximately 7.28 billion yen) in donations from the cryptocurrency industry between the 2024 election campaign and his inauguration as president, he has transformed into a pro-cryptocurrency advocate, issuing his own cryptocurrency, '$TRUMP.'
The Forces That Flipped Trump From Crypto Critic to 'Crypto President' - WSJ
https://www.wsj.com/politics/policy/trump-crypto-president-meme-coin-0ca2c31b
in Note, Posted by logc_nt