According to CEO Cory Klippsten, Swan's Managed Mining business is not generating the revenue it needs and for that reason they will be backing off the IPO.
Founded in 2011, Bitstamp is the world’s longest actively running crypto exchange.
The reversal comes after Galaxy had initially won a dismissal of the lawsuit in June 2023 in a lower court.
Share prices of Ether Capital are up ~30% on the news.
While the company hasn’t specifically stated that they are pushing for an IPO (they say both public and private market fundraising is on the table), we can’t help but predict one is on the way…
The move signals more than just a financial commitment; it's a nod of confidence to Solana.
Monad Labs, an Ethereum competitor, is reportedly in talks to raise more than $200 million at a $3 billion valuation.
Once valued at more than $13 billion, NFT exchange OpenSea may now be up for sale.