Search
Crypto News
News
Insiders Reveal Possible Sale of Billion Dollar Cryptocurrency Company
Insiders have disclosed that a billion-dollar cryptocurrency company may soon be sold or go public. Here are the details.
Author:
Mete Demiralp
28.10.2024 – 18:47
Update:
11 hours ago
0
Bitpanda, the cryptocurrency exchange based in Vienna and backed by billionaire investor Peter Thiel, is considering various strategic options, including a potential initial public offering (IPO) in Frankfurt.
The company is collaborating with major financial institutions such as Citigroup Inc. and JPMorgan Chase & Co. and is exploring different possibilities, including a sale or an IPO, according to sources familiar with the matter.
The sources, who requested anonymity due to the private nature of the discussions, stated that a potential deal could value Bitpanda at $4 billion or more. Any potential deal for Bitpanda is expected to take place next year. However, negotiations are still ongoing, and the exchange may ultimately decide not to proceed with a deal.
Related News
Watch Out: Unusual Trading Volume Booms in 5 Altcoins in South Korea – Here’s the List
Bitpanda’s valuations come at a time of resurgence in the cryptocurrency market, following the approval of spot Bitcoin ETFs by U.S. regulators. The regulatory approval has increased the attractiveness of digital asset companies to potential investors. Additionally, market optimism over a potential win for pro-crypto Republican candidate Donald Trump in the upcoming U.S. presidential election has further boosted gains.
Established in 2014, Bitpanda facilitates individual trading in cryptocurrencies, equity derivatives, and commodities. The company was last valued at $4.1 billion in August 2021 when it raised $263 million in a round led by Thiel’s Valar Ventures, billionaire financier Alan Howard, and REDO Ventures.
The Austrian startup reported strong financial results earlier this year. In May, Bitpanda announced a record profit forecast for 2024, generating over €100 million ($108 million) in revenue in the first quarter alone. The company also offset losses of more than €130 million in 2022 by achieving pre-tax profits of €13.6 million in 2023.
*This is not investment advice.
To invest in more than 300 cryptocurrencies, you can register with Binance exchange with 20% COMMISSION DISCOUNT from this link!
Follow our
Telegram
and
Twitter
account now for exclusive news, analytics and on-chain data!
Buradaki Yorumlardan Bildirim Al
Bildir
Benim yorumuma yeni yanıt geldiğinde
Label
Name:
Mail
Δ
Label
Name:
Mail
Δ
0
Comments
Latest
The oldest
Top Rated
Inline Feedbacks
View all comments
