Crypto Company BitGo Eyes $2 Billion Valuation After Raising $213 Million in IPO
By Amanda Lee
BitGo is set to become the first crypto company to list in the U.S. this year, setting an initial public offering price that implies a roughly $2 billion valuation.
BitGo, one of the largest crypto custody firms in the U.S., said Wednesday that it raised $212.8 million in an offering after pricing shares at $18 each, above its marketed price range of $15-$17.
Shares are expected to begin trading Thursday on the New York Stock Exchange.
BitGo’s IPO comes amid rising tensions between crypto firms, banks and regulators.
An expected vote by the Senate Banking Committee to advance crypto market-structure legislation last week was postponed, souring market sentiment after a bull run spurred in part by the…
