Crypto companies returned to the IPO model in 2025
Crypto companies went full circle in 2025, seeking financing through official initial public offerings. The public launches are expected to continue in 2026.
Crypto companies are no longer raising funds through token sales. Instead, in 2025, a new trend emerged, where major entities completed initial public offerings. Some of the companies even had previous token launches, though the assets did not achieve sufficient exposure.
One of the reasons for the shift to IPO is the loss of trust in fundraising. The biggest 2018 IPO season created projects with significant treasuries, which never delivered a product.
Afterward, public sales, IDO, and other raises also failed to create value. New tokens faced decreased trust and…
