Latest news with #BitGo
Yahoo
5 hours ago
- Business
- Yahoo
BitGo Files to Go Public as Crypto Market Surges Past $4 Trillion
Crypto custody firm BitGo said it confidentially filed for an initial public offering in the U.S. The move comes as the digital asset market crossed a record high $4 trillion in total value last week. The filing, submitted just days after the market cap milestone, positions the Palo Alto, California-based company to join a growing list of digital asset firms heading to public markets. The demand is clear: Investors have been piling into crypto-related stocks in recent months, looking to capitalize on the sector's renewed momentum. Founded in 2013, BitGo secures digital assets for institutional clients including exchanges, banks and investment firms. It's widely regarded as one of the largest crypto custodians in the U.S. While not as visible to everyday investors as trading platforms, BitGo's role as a behind-the-scenes vault has grown more critical as financial institutions become more active in the industry. This year's rally in crypto asset prices — and progress toward regulatory frameworks in Washington — has spurred a wave of IPO activity. Stablecoin issuer Circle (CRCL) and trading platform eToro (ETOR) both went public recently and saw significant stock price appreciation. Circle's shares have soared more than 630% since their listing, fueled by institutional adoption of its USDC stablecoin. Other firms are rushing to follow. Last week, crypto asset manager Grayscale said it had filed for an IPO. Crypto exchange Gemini made a similar move. Bullish exchange, a sister company to CoinDesk, on Friday announced plans to go public in the U.S. The companies are betting that Wall Street's appetite for digital assets will continue even after the initial excitement fades. BitGo's potential listing would give investors another pure-play crypto stock at a time when exposure to the industry has become a popular allocation. For now, no timeline or valuation has been announced. The company raised $100 million in August 2023 at a $1.75 billion in to access your portfolio
Bloomberg
8 hours ago
- Business
- Bloomberg
Crypto Firms Making Moves in the Public Market
The renewed optimism in crypto has seen a new wave of firms such as Cantor Fitzgerald and BitGo making moves in the public market. Bloomberg's Anthony Hughes reports. (Source: Bloomberg)
National Post
12 hours ago
- Business
- National Post
DevvStream Announces Initial Crypto Treasury Portfolio and Appoints Custodian and Consultant
Article content CALGARY, Alberta — DevvStream Corp. (Nasdaq: DEVS) (' DevvStream ' or the ' Company '), a leading carbon management firm specializing in the development, investment, and sale of environmental assets, today announced the initial composition of its crypto treasury portfolio, along with the appointment of BitGo Trust Company (' BitGo ') as qualified custodian and FRNT Financial Inc as digital treasury consultant. Article content DevvStream is deploying a forward-looking crypto treasury strategy designed to combine institutional-grade liquidity with exposure to programmable sustainability, with real-world asset (' RWA ') tokenization as a core investment thesis. The Company's treasury portfolio will initially include Bitcoin ($BTC), Solana ($SOL), and DevvE ($DEVVE), representing its dual approach to its digital asset strategy. Article content Article content Bitcoin ($BTC): Selected as the foundational asset of the digital economy, providing unparalleled security and market liquidity. Solana ($SOL): Chosen for its exceptional transaction speed and large-scale ecosystem, offering stable yield and deep liquidity for treasury management. DevvE ($DEVVE): A programmable digital asset that combines DeFi innovation and utility with the safety and security that traditional finance requires, enabling the Company's 'impact-layer tokenization' strategy. Article content 'Our treasury model isn't just about holding crypto. It's about aligning capital with our mission,' said Sunny Trinh, CEO of DevvStream. 'Our mix of assets is designed to deliver institutional-grade efficiency and income, while bridging to sustainability tokenization and real-world asset integration. Together, they position DevvStream at the intersection of liquidity, innovation, and impact.' Article content DevvStream expects to continue expanding its digital asset portfolio as part of its broader strategy to fund sustainable infrastructure, tokenize real-world environmental assets, and provide investors with diversified exposure to the emerging digital–environmental economy. Article content About DevvStream Article content Founded in 2021, DevvStream is a leading carbon management firm specializing in the development, investment, and sale of environmental assets, energy transition, and innovative carbon management solutions. The Company's mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health. Article content With a diverse approach to energy transition and carbon markets, DevvStream operates across three strategic domains: (1) an offset portfolio consisting of nature-based, tech-based, and carbon sequestration credits for immediate sale to corporations and governments seeking to offset their most difficult-to-reduce emissions; (2) project investment, acquisitions, and industry consolidation to extend the company's reach, allowing it to become a full end-to-end solutions provider; and (3) project development, where the company serves as project manager for eligible activities such as EV charging or renewable energy generation in exchange for a percentage of generated credits or I-RECs. Article content Certain statements in this news release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events, trends or DevvStream's future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential' or 'continue', or the negatives of these terms or variations of them or similar terminology. These forward-looking statements include statements regarding DevvStream's intentions, beliefs, projections, outlook, analyses and current expectations concerning, among other things, DevvStream's ability to continue as a going concern and to realize the benefits of its recently completed business combination, DevvStream's ability to remain listed on Nasdaq, the volatility of the market price and the liquidity of DevvStream's common shares, the impact from future regulatory, judicial, legislative or regulatory changes in DevvStream's industry, the trends in the carbon credit markets, future performance and anticipated financial impacts of certain transactions by DevvStream or others, the growth and value of the global carbon credit or I-REC market traded value, the potential of carbon credits to provide carbon emission reductions and reduce carbon emissions to limit global warming, estimated CO2 capture, sequestration, decarbonization or storage capacities or potentials of different projects in which DevvStream is investing, DevvStream's opportunity pipeline and the ability of such opportunities to generate I-RECs, carbon credits, tax credits, or shared savings revenue each year, and the market growth and value of these markets, all of which are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by DevvStream and its management are inherently uncertain and subject to material change. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Article content These forward-looking statements are expressed in good faith, and DevvStream believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and DevvStream is under no obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in filings made by, or to be made by, DevvStream from time to time with the SEC and with the Canadian securities regulatory authorities. This news release is not an offer to sell or the solicitation of an offer to buy, any securities of DevvStream and this news release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in DevvStream. All subsequent written and oral forward-looking statements concerning DevvStream or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Article content Article content Article content Article content Article content
Globe and Mail
13 hours ago
- Business
- Globe and Mail
DevvStream Announces Initial Crypto Treasury Portfolio and Appoints Custodian and Consultant
DevvStream Corp. (Nasdaq: DEVS) (' DevvStream ' or the ' Company '), a leading carbon management firm specializing in the development, investment, and sale of environmental assets, today announced the initial composition of its crypto treasury portfolio, along with the appointment of BitGo Trust Company (' BitGo ') as qualified custodian and FRNT Financial Inc as digital treasury consultant. DevvStream is deploying a forward-looking crypto treasury strategy designed to combine institutional-grade liquidity with exposure to programmable sustainability, with real-world asset (' RWA ') tokenization as a core investment thesis. The Company's treasury portfolio will initially include Bitcoin ($BTC), Solana ($SOL), and DevvE ($DEVVE), representing its dual approach to its digital asset strategy. Bitcoin ($BTC): Selected as the foundational asset of the digital economy, providing unparalleled security and market liquidity. Solana ($SOL): Chosen for its exceptional transaction speed and large-scale ecosystem, offering stable yield and deep liquidity for treasury management. DevvE ($DEVVE): A programmable digital asset that combines DeFi innovation and utility with the safety and security that traditional finance requires, enabling the Company's 'impact-layer tokenization' strategy. 'Our treasury model isn't just about holding crypto. It's about aligning capital with our mission,' said Sunny Trinh, CEO of DevvStream. 'Our mix of assets is designed to deliver institutional-grade efficiency and income, while bridging to sustainability tokenization and real-world asset integration. Together, they position DevvStream at the intersection of liquidity, innovation, and impact.' DevvStream expects to continue expanding its digital asset portfolio as part of its broader strategy to fund sustainable infrastructure, tokenize real-world environmental assets, and provide investors with diversified exposure to the emerging digital–environmental economy. About DevvStream Founded in 2021, DevvStream is a leading carbon management firm specializing in the development, investment, and sale of environmental assets, energy transition, and innovative carbon management solutions. The Company's mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health. With a diverse approach to energy transition and carbon markets, DevvStream operates across three strategic domains: (1) an offset portfolio consisting of nature-based, tech-based, and carbon sequestration credits for immediate sale to corporations and governments seeking to offset their most difficult-to-reduce emissions; (2) project investment, acquisitions, and industry consolidation to extend the company's reach, allowing it to become a full end-to-end solutions provider; and (3) project development, where the company serves as project manager for eligible activities such as EV charging or renewable energy generation in exchange for a percentage of generated credits or I-RECs. For more information, please visit Cautionary Note Regarding Forward-Looking Statements Certain statements in this news release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events, trends or DevvStream's future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential' or 'continue', or the negatives of these terms or variations of them or similar terminology. These forward-looking statements include statements regarding DevvStream's intentions, beliefs, projections, outlook, analyses and current expectations concerning, among other things, DevvStream's ability to continue as a going concern and to realize the benefits of its recently completed business combination, DevvStream's ability to remain listed on Nasdaq, the volatility of the market price and the liquidity of DevvStream's common shares, the impact from future regulatory, judicial, legislative or regulatory changes in DevvStream's industry, the trends in the carbon credit markets, future performance and anticipated financial impacts of certain transactions by DevvStream or others, the growth and value of the global carbon credit or I-REC market traded value, the potential of carbon credits to provide carbon emission reductions and reduce carbon emissions to limit global warming, estimated CO2 capture, sequestration, decarbonization or storage capacities or potentials of different projects in which DevvStream is investing, DevvStream's opportunity pipeline and the ability of such opportunities to generate I-RECs, carbon credits, tax credits, or shared savings revenue each year, and the market growth and value of these markets, all of which are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by DevvStream and its management are inherently uncertain and subject to material change. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are expressed in good faith, and DevvStream believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and DevvStream is under no obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in filings made by, or to be made by, DevvStream from time to time with the SEC and with the Canadian securities regulatory authorities. This news release is not an offer to sell or the solicitation of an offer to buy, any securities of DevvStream and this news release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in DevvStream. All subsequent written and oral forward-looking statements concerning DevvStream or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
Zawya
a day ago
- Business
- Zawya
BitGo joins crypto IPO rush as sector hits $4trln in market value
Crypto custody startup BitGo said on Monday it has confidentially filed for a U.S. listing, joining a wave of companies looking to capitalize on strong market momentum. The crypto sector's climb to a $4-trillion market value has reignited interest for initial public offerings, with clearer regulation, corporate treasury adoption, and institutional inflows fueling a new wave of new listings. Bitcoin, the world's largest and best-known cryptocurrency, recently hit an all-time high and breached the $120,000 mark. "These are the best market conditions the crypto space has seen in years, and companies want to take advantage of that," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "These startups know that the IPO window can shut unexpectedly, especially in a volatile space like crypto, so they're looking to strike while the iron's hot." Founded in 2013, BitGo is one of the largest crypto custody firms in the United States. It stores and protects digital assets for clients, a role that has gained importance as institutional interest in crypto grows. In mid-2023, it raised $100 million at a $1.75 billion valuation. CRYPTO IPO BOOM The sector's rapid ascent has opened the floodgates for IPO filings, with crypto exchange Bullish recently disclosing its IPO paperwork. Crypto-focused asset manager Grayscale and Gemini, the digital assets exchange founded by Tyler and Cameron Winklevoss, have also confidentially filed to go public. "Many crypto companies have matured. After more than a decade, they've built stable client bases, some with SaaS-like margins and predictable cash flows," said Kat Liu, vice president at IPO research firm IPOX. Last week, U.S. President Donald Trump signed a law to create a regulatory regime for stablecoins, potentially allowing the dollar-pegged digital assets to become an everyday way to make payments and move money. Stablecoin issuer Circle went public in June in a blowout market debut. (Reporting by Manya Saini in Bengaluru; Editing by Leroy Leo and Shinjini Ganguli)
