According to the February 11 Bloomberg Report, Cryptocurrency Custodian Bitgo immediately performs IPO (IPO) this year.
Bloomberg said Bitgo, based on Palo Alto, talks with an investment bank and advises IPOs that may happen in the second half of 2025. The deliberations are in progress and the final decision has not been made.
Bitgo provides US institutions with regulated password custody, loan and infrastructure services. The company’s spokesman refused to mention COINTELEGRAPH in the report.
The company is best known as the manager of the popular Bitcoin (BTC) rapper, the packaging Bitcoin (WBTC). Bitcoin packaging is a token that represents BTC in other blockchain networks.
According to CoinmarketCap, WBTC has a market cap of about $ 12 billion as of February 11. In November, Coinbase announced plans to partially control WBTC’s Bitcoin for Hong Kong -based Crypto Exchange Bit Global after partial control of WBTC’s Bitcoin Backing.
relevant: Bit Global Claims Coinbase has listed WBTC for ‘competitive advantage’.
WBTC remains the most popular rapper token with its market cap. source: Coinmarketcap
Public market surge in encryption companies
Bitgo joined other major encryption companies that considered Crypto -friendly President Donald Trump in January after starting his term in January.
Other encryption companies that are watching the public list include the Stablecoin publisher circle and Krake, Gemini and Rollish exchange.
Regulatory digital asset managers such as Bitgo are spreading in the United States. Others include FireBlocks, Coinbase Cultody Trust and FIDELITY DIGITAL ASSET Services.
Meanwhile, as the COINTELELEGRAPH Research reported, many people believed that it would help his victory, and the cryptocurrency surged with Trump’s November 5 victory in the US presidential election.
According to Google Finance’s data, Coin’s stock, Coinbase stock, has increased by about 40% since Trump’s victory.
Coinbase serves as a manager of most US Bitcoin and ETH exchange transaction funds.
In 2023, Bitgo raised $ 100 million from investors with $ 17.5 billion in evaluation, including Goldman Sachs and DRW Holdings, said Bloomberg.
According to Bloomberg, Mike Belshe, CEO of Bitgo in July, hosted a fundraising event for President Trump’s campaign.
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