ipo

According to CoinDesk, hardware wallet manufacturer Ledger has suspended its plans to go public in the U.S. due to unfavorable market conditions. Sources say that Ledger had discussions with investment banks such as Goldman Sachs, Jefferies, and Barclays about an IPO in the U.S. this year, with a potential valuation of around $4 billion, but has not yet submitted an S-1 registration document to the SEC. The company is evaluating other options, including private financing.The report points out that after several crypto companies go public in 2025, many institutions, including Kraken, have postponed their IPOs due to weakening token prices, declining trading volumes, and stock market volatility. Additionally, the only crypto-native company that went public in 2026, BitGo, has seen its stock price drop about 36% below its offering price.

According to the official announcement, the Bitget IPO Prime Phase II project preOPAI is now open for subscription, with the investment period ending on May 15 at 16:00 (UTC+8). The token distribution phase will take place from May 15 at 16:00 to 20:00 (UTC+8); spot trading will begin on May 15 at 22:00 (UTC+8). Project details are as follows:• OpenAI implied valuation: $898.21 billion• Total subscription amount for IPO Prime: 29,082• Total subscription value: $21,084,450• Subscription price: 1 preOPAI = $725• Investment currencies: USDT or USDGO• Total investment pool cap: $300,000,000• Individual investment range: $100 - $600,000• Distribution schedule: 30% released on May 15, 30% released on June 15, 40% released on July 15

According to informed sources, Payward, the parent company of the cryptocurrency platform Kraken, is conducting a new round of capital financing at a valuation of $20 billion, to which Kraken declined to comment.The company has recently significantly increased its merger and acquisition spending—acquiring the stablecoin-focused payment company Reap for $600 million and the digital asset derivatives platform Bitnomial for $550 million, both transactions conducted at a $20 billion valuation.Its largest transaction was the $1.5 billion acquisition of the U.S. retail futures platform and CFTC-registered futures commission merchant NinjaTrader in 2025, which provided Kraken with a significant foothold in the U.S. derivatives market.Regarding IPO progress, Payward secretly submitted an S-1 registration statement draft to the U.S. SEC on November 19, 2025. Although reports in March 2026 indicated that the company paused its IPO plans due to unfavorable market conditions, sources stated that the company still intends to go public, but may wait for market improvements.At last week's Consensus conference in Miami, Payward co-CEO Arjun Sethi stated that the trading platform is "80% ready" for an IPO.Additionally, Deutsche Börse (DB1) purchased approximately 1.5% of Payward's shares for $200 million through a secondary share sale in April 2026, valuing Payward at $13.3 billion (lower than the previous financing round's valuation of about $20 billion).In November 2025, Kraken completed an $800 million financing in two tranches to push traditional financial products onto the blockchain, with investors including Jane Street, DRW Venture Capital, and Tribe Capital. Subsequently, Citadel Securities also made a strategic investment of $200 million at a $20 billion valuation.

According to the official announcement, the asset for the second phase of Bitget IPO Prime is preOPAI, a digital token issued on the Solana chain by the regulated issuer Republic, aimed at mirroring the economic performance of OpenAI post-IPO on a 1:1 basis. As a leading consumer-level AI provider globally, OpenAI's official data shows that it has approximately 900 million weekly active users. Its most recent financing round reached $122 billion, with investors including Microsoft, NVIDIA, Amazon, and SoftBank.Bitget IPO Prime adopts a subscription model, allowing users to obtain corresponding subscription quotas based on their account levels. After the token distribution is completed, users can trade in the upcoming spot market; they can also exchange for stock tokens or USDT based on the market price of the underlying company's stock, as entrusted by the issuer to Bitget, after the lock-up period of the preOPAI underlying debt asset ends.IPO Prime Details:• Implied valuation of OpenAI: $898.21 billion• Total subscription amount for IPO Prime: 29,082• Total subscription value: $21,084,450• Subscription price: 1 preOPAI = $725• Investment currencies: USDT or USDGO• Total upper limit of investment pool: $300,000,000• Individual investment range: $100 - $600,000• Investment period: May 12, 16:00 to May 15, 16:00 (UTC+8)• Distribution time: May 15, 16:00 to 20:00 (UTC+8)• Spot trading time: May 15, 22:00 (UTC+8)• Distribution schedule: 30% released on May 15, 30% released on June 15, 40% released on July 15

According to crypto analyst Murphy, Bitget's second phase of IPO Prime will be announced tonight at 18:00.On-chain data shows that preOPAI was minted on May 7 by Republic on the Solana chain, with the first batch of 29,082 tokens entering the project team's custody account. The top-level instruction is Mint_securities, and the calling program is 4X79YR...zMJwr3 (Republic's access token issuance program), with only the final step of distribution remaining before officially launching on Bitget IPO Prime.Based on the on-chain minting data and the previous preSPAX, which was a collaboration between Bitget and Republic, the second phase of IPO Prime is highly likely to be related to an OpenAI project.

According to sources, due to rising market demand, Cerebras plans to raise the IPO price range to $150 to $160 per share.

According to BBX data, this week the outflow channels of cryptocurrency infrastructure and the forward-looking financial reports of mining companies are advancing on two fronts, with the core dynamics as follows:Kraken (parent company Payward, Inc.) and the global payment network MoneyGram announced the establishment of a global strategic partnership through PR Newswire on May 5. Kraken users can withdraw cash exchanged for cryptocurrency in hundreds of fiat currencies at nearly 500,000 MoneyGram physical locations covering over 100 countries; initially focusing on cryptocurrency outflows, with plans to expand to local bank deposits and cross-border remittance flows; Kraken is responsible for customer identity verification, while MoneyGram provides licensed remittance services and compliance frameworks. Kraken co-CEO Arjun Sethi confirmed in an interview with Fortune that the company's IPO progress is "close to 80%," having previously submitted its confidential S-1 filing to the SEC. Bloomberg estimates the current valuation at approximately $13.3 billion based on a $200 million equity investment from Deutsche Börse.MARA Holdings, Inc. (NASDAQ: $MARA) officially announced on ir.mara.com on May 4 that its Q1 2026 financial report will be released after the market closes on May 11, with a conference call scheduled for 5:00 PM (ET); analyst consensus expects an EPS of approximately -$2.34 and revenue of about $184.2 million. As of the end of 2025, the company holds 53,822 BTC, with full-year revenue for 2025 at $907 million (up 38% year-on-year) and a hash rate of 66.4 EH/s; during Q1 2026, the price of BTC fell from about $87,000 to around $68,000, putting pressure on the mining company's total costs. The market will focus on the progress of its AI/HPC data center transformation and the rollout pace of the Starwood JV, which exceeds 1 gigawatt capacity.The U.S. Department of Labor released the April non-farm employment data on May 8, showing an increase of 115,000 jobs, nearly double the market expectation; Bitcoin maintained a range of $79,000---$80,000 after the data was released, with the market interpreting this "soft landing" signal as favorable for risk assets—an unheated job market means an increased probability of the Federal Reserve maintaining current interest rates, keeping the mid-term liquidity environment for cryptocurrency stable. The monthly net inflow for Bitcoin spot ETFs in April was approximately $2.44 billion, the strongest single month data of the year; April's monthly close rose by 16%, and if May's closing price remains above $76,000, it will confirm three consecutive months of positive monthly closes for Bitcoin, which Fundstrat founder Tom Lee defines as a "bear market ending signal."

Anthropic's implied valuation in the on-chain Pre-IPO market has risen to $1.2 trillion (approximately 8.7 trillion RMB), officially surpassing OpenAI, with its pre-IPO valuation now about 20% higher than OpenAI's. If it goes public at this valuation, it will directly land as the 11th largest publicly traded company in the world, only behind Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta, TSMC, Broadcom, Tesla, and Saudi Aramco.

Kraken co-CEO Arjun Sethi stated at the Consensus Miami conference that the preparations for KrakenIPO are about 80% complete, and the company has submitted an application to the U.S. Securities and Exchange Commission, currently waiting for the right market window.Kraken also announced a partnership with MoneyGram, where both parties will collaborate on scenarios involving the exchange of crypto assets and cash to address the "last mile" cash access issue. MoneyGram currently has approximately 500,000 retail locations worldwide. Executives from both sides stated that stablecoins are expected to reduce costs and efficiency losses in payment systems, especially in regions with weaker financial infrastructure.

According to Business Wire, the special purpose acquisition company Quantum Leap announced the completion of a $200 million initial public offering (IPO) and will trade on the NYSE under the ticker symbol "QLEPU." The raised funds will be used to support its pursuit of acquisition or merger transactions in areas such as artificial intelligence, quantum computing, and blockchain.

According to Jinshi News, artificial intelligence chip manufacturer and data center operator Cerebras Systems plans to raise up to $3.5 billion through an initial public offering to compete against rivals in this hot industry.According to documents submitted by the company, headquartered in Sunnyvale, California, to the U.S. Securities and Exchange Commission, the company is issuing 28 million shares at a price of $115 to $125 per share. Cerebras had secretly submitted its listing application earlier this year, and just a few months ago, the company withdrew a previous registration application.

Bloomberg reports that sources have revealed that Cerebras Systems is seeking to raise up to $4 billion in its initial public offering (IPO), as demand for the stock of this artificial intelligence chip manufacturer and data center operator heats up.According to insiders, the company, headquartered in Sunnyvale, California, has a target valuation of approximately $40 billion. As the information has not been made public, these individuals requested anonymity. There are also reports that Cerebras may launch the formal roadshow for the IPO as early as Monday. It is said that the investment banks underwriting the deal have received over $10 billion in potential subscription interest. This comes against a backdrop of significant increases in semiconductor stocks. Insiders also indicated that details regarding the offering size, valuation, and timing may still change. Cerebras declined to comment on this matter.