Crypto firm BitGo confidentially files for US IPO
(Reuters) -BitGo, a provider of trust and security services for digital assets, said on Monday it has confidentially filed for a U.S. listing, as crypto firms race to capitalize on renewed market momentum.
Several high-profile companies, including those in riskier sectors like crypto and fintech, have launched successful listings in recent weeks, signaling pent-up demand and a rebound in capital markets activity.
BitGo's announcement follows the crypto sector's market value hitting $4 trillion last week, driven by renewed optimism, regulatory clarity in key markets, and rising institutional inflows.
The number of shares to be offered and the price range for the proposed initial public offering have not yet been determined, BitGo said.
(Reporting by Manya Saini in Bengaluru; Editing by Leroy Leo)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
Fitch cuts Finland's credit rating amid rising debt
FILE PHOTO: A Finnish flag flies over the City Hall in Helsinki, Finland, February 10, 2024. REUTERS/Tom Little/File photo HELSINKI: Finland suffered its first downgrade in almost a decade after Fitch Ratings cut the Nordic country's credit rating over its failure to rein in ballooning debt. Fitch late last Friday lowered Finland's long-term rating by one level to AA from AA+, the lowest credit grade among the top three rating companies, almost a year after it issued a negative outlook on the debt. Finland's rating at Fitch is now the third-highest, eight levels above junk. 'Finland's high government debt remains on an upward trajectory, and we do not anticipate sufficient fiscal consolidation to stabilise debt over the medium term,' Fitch said in a statement. The news comes as the government of Prime Minister Petteri Orpo is attempting to right the course of public finances, which have suffered from consecutive deficits since 2009. The Cabinet's stated target is to stabilise the debt-to-gross domestic product (GDP) ratio in 2027. In April, the coalition Cabinet unveiled a €2.3bil (US$2.7bil) package of measures to kickstart growth and investment in the subdued economy. Lower income and corporate tax rates, as well as a smaller levies on food and medicines, are aimed at boosting purchasing power as the economy gradually recovers from two years of contraction, helped by a series of interest-rate cuts by the European Central Bank. Underlying the efforts is an unaddressed structural shift in the export-led country's industries. Successive governments have failed to rein in spending to match the loss of income from key industries, including papermaking and consumer electronics. 'Fitch assesses that the measures already decided are insufficient to stabilise the debt ratio over the medium term, given the high level of government spending (57.7% of GDP in 2024) due to ageing-related costs, social spending and increased defence spending,' it said. — Bloomberg
The Sun
2 hours ago
- The Sun
Starmer to discuss Gaza crisis and trade with Trump in Scotland
TURNBERRY: UK Prime Minister Keir Starmer is set to press US President Donald Trump on the worsening humanitarian crisis in Gaza and stalled ceasefire talks when they meet at Trump's Scottish golf resort. The discussions will also cover trade cooperation following a recent UK-US deal and efforts to resolve Russia's war in Ukraine. Starmer is expected to emphasise the urgent need for a ceasefire in Gaza, where hunger and suffering continue to escalate. A Downing Street spokesperson said the prime minister would welcome US efforts to mediate through Qatar and Egypt while pushing for more action. 'He will discuss what more can be done to secure the ceasefire urgently, bring an end to the unspeakable suffering and starvation in Gaza, and free the hostages,' the spokesperson added. Trump, who arrived in Scotland earlier this week, acknowledged the crisis but stressed that Gaza's plight is an 'international problem' requiring broader contributions. 'It's not a US problem,' he said, after announcing additional US aid. The meeting follows a landmark US-EU trade agreement that averted a potential tariff war. Starmer and Trump will review progress on the UK-US trade deal signed in May, which lowers tariffs on certain British exports but has yet to take full effect. Domestically, Starmer faces pressure to follow France's lead in recognising Palestinian statehood, with over 220 UK MPs backing the move. However, the Downing Street statement did not mention this issue. After their talks, the leaders will travel to Aberdeen, where Trump is scheduled to open a new golf course. The US president has combined leisure and diplomacy during his five-day visit, raising questions about the overlap between his official duties and business interests. - Reuters
The Star
3 hours ago
- The Star
US commerce secretary says Trump really likes TikTok, but app has to move to US ownership
FILE PHOTO: A man films a TikTok video outside the U.S. headquarters of the social media company TikTok in Culver City, California, U.S. January 18,2025. REUTERS/Fred Greaves/File Photo WASHINGTON (Reuters) -U.S. President Donald Trump likes TikTok but the Chinese-owned short video app, used by some 170 million Americans, has to move to U.S. ownership, Secretary of Commerce Howard Lutnick said on Sunday. "The President really likes TikTok, and he said it over and over again, because, you know, it was a good way to communicate with young people," Lutnick said in an interview on Fox News Sunday with Shannon Bream. "But let's face it, you can't have the Chinese have an app on 100 million American phones, that is just not okay. So, it's got to move to American ownership, it's got to move to American technology, American algorithms," he said. "I know the President is positive towards TikTok, if it can move into American hands." (Reporting by Ahmed AbouleneinEditing by Marguerita Choy)
