Chia Network Submits Registration to U.S. SEC For Proposed IPO

The size and price range for the offering has yet to be determined

AccessTimeIconApr 14, 2023 at 1:13 p.m. UTC
Updated May 9, 2023 at 4:12 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Blockchain and smart-contract platform Chia Network – founded by Bram Cohen, inventor of BitTorrent – has submitted a confidential draft registration to the U.S. Securities and Exchange Commission for a proposed initial public offering (IPO).

The size and price range for the offering has yet to be determined, Chia said in a press release on Friday.

Chia's aspirations for a public listing go back to bull run of 2021, when Bloomberg reported the blockchain raised $61 million in a Series D funding round, led by Andreessen Horowitz (a16z) and Richmond Global Ventures, at $500 million valuation. At the time, then Chief Operating Officer (now CEO) Gene Hoffman was reported to have said that it was on "an accelerated timeline" to an IPO.

Chia's native token XCH at press time wasn't showing much reaction to the news, maintaining its 2.6% advance over the past 24 hours.

XCH rose more than 10% shortly afterwards and at 16:45 UTC was higher by 12.3%.

Edited by Aoyon Ashraf.

CORRECTION (April 14, 13:20 UTC): Changes time that Chia made announcement from 13:30 UTC to 12:30 UTC

UPDATED (April 14, 16:45 UTC): Adds share price movement subsequent to original story being published.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.