Chia Network (XCH) is making progress toward an IPO, according to CEO Gene Hoffman.

The company confidentially filed a revised Form S-1 with the U.S. Securities and Exchange Commission in late March after regulators sent a comment letter to the company, CEO Gene Hoffman said in a Manhattan-based filing from law firm Brown Rudnick. He spoke at the conference he hosted. However, the IPO schedule has not been finalized yet as the company is waiting for the right market conditions, he later told CoinDesk.