Initial public offerings of any kind are notable these days, given that few IPOs have happened for more than a year. A crypto IPO is even more ambitious, given the regulatory crackdown on the industry. Despite all that, blockchain development company Chia Network, Inc. says it’s gearing up to go public.
The company announced on Friday it had filed IPO paperwork confidentially with the U.S. Securities and Exchange Commission. But frankly, Chia’s setup is a bit of a head scratcher, at least at first glance! For one: Chia Network is a blockchain with a cryptocurrency, XCH, that already trades on crypto exchanges—so, then, what exactly is the business that’s going public?
