The SEC didn’t set out to stop the companies from going public, according to a person familiar with the matter, but crypto firms believe the pace of the agency’s review hurt their efforts, particularly after the crash of a well-known cryptocurrency and the failure of a large crypto hedge fund that hit many exchanges and lenders. The bankruptcy of crypto exchange FTX and a bear market in digital asset prices may keep the door closed.
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SEC scrutiny blocks some crypto firms from going public
“Anyone bringing a crypto deal to the SEC should realize there is going to be a lot of friction,” said Scott Kimpel, a partner at law firm Hunton Andrews Kurth LLP.
