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Crypto IPOs have become the talk of the town, with a growing number of companies in the space looking to go public. Crypto.com’s CEO Kris Marszalek recently discussed the company’s evolving strategies and future plans.
Is an IPO next for it? Let us find out.
Crypto.com CEO Talks IPO and New Initiatives
In an interview with Bloomberg, Marszalek opened up on the relationship with the Trump Media, IPO plans and its push into the prediction market.
He credited the Trump administration and its technology team for pushing crypto forward, while pointing to Crypto.com’s role in supporting large purchases, building infrastructure, and expanding its reach into ETFs, payments, and subscriptions.
When he asked whether Crypto.com would consider going public, amid the rising IPO activity, he admitted that it’s “quite tempting to consider these options.”
‘We Have The Numbers For An IPO’
Marszalek revealed that the company generated $1.5 billion in revenue last year, $1 billion in gross profit, and reinvested $700 million, leaving about $300 million in net profit.
“We have the numbers and we have been approached by all the top names in terms of investment banks. We want to be a very well-run company, so we’re preparing everything, but no decisions have been made at this point.”
Despite these numbers, Marszalek said Crypto.com is not rushing into a public listing. He emphasized that staying private gives the company the ability to move faster, adding that its strong balance sheet means there is no pressure to make a hasty decision.
Looking ahead, he expects 2025 to be an even stronger year for the company, particularly if the Federal Reserve cuts interest rates and Q4 growth continues.
Trump Media Partnership Boosts Ambitions
Crypto.com’s ambitions are also supported by its partnership with Trump Media & Technology Group, which announced Trump Media Group CRO Strategy, Inc., a $6.4B project aimed at building a Cronos token treasury.
The new venture will go public through a Yorkville merger and is expected to trade on Nasdaq under the ticker MCGA.
Crypto IPO Wave Gains Momentum
Crypto.com is not alone in weighing a public offering. Several other crypto firms are preparing to go public, signaling growing investor interest in the sector.
- Gemini is pursuing a $2.2B valuation
- Blockchain lender Figma is reportedly targeting $4.13B in its IPO.
- Bullish and Circle recently completed successful listings.
This wave of IPO activity shows a clear appetite for crypto-focused companies, which could set the stage for Crypto.com to become a standout player.
Crypto.com Eyes Sports Prediction Markets
A big part of Crypto.com’s future plans is its expansion into sports prediction markets. Marszalek said this is just one piece of a broader strategy and predicted that prediction markets would become a huge growth area.
“We want to be the liquidity center for prediction markets onshore in the US. So we will play very aggressively in that space,” he said.
With solid finances and a good growth strategy, Crypto.com could be gearing up for one of the most anticipated IPOs in the crypto industry.
