Startups

Crypto Startup Chia Network Files Confidentially for IPO

The eco-friendly blockchain maker thinks market conditions are set to improve.

Chia Network’s Chairman & Founder Bram Cohen and Chief Executive Officer Gene HoffmanPhotographer: Chia Network

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By Hannah Miller

April 14, 2023 at 1:50 PM UTC

Updated on

April 14, 2023 at 6:29 PM UTC

This article is for subscribers only.

Crypto startup Chia Network Inc. indicated Friday that it has moved a step closer to a US initial public offering. The company said that it has confidentially submitted a draft registration statement to the Securities and Exchange Commission.

Chia, which was valued at about $500 million in 2021, said in the announcement that the size and price range for the proposed IPO have not been determined yet.