Blockworks Reported Despite the SEC’s lawsuit against Coinbase, Circle and Kraken remain committed to their plans of going public, although challenges in the current business environment persist.

Circle, a prominent crypto payments technology company, had initially announced its intention to go public by merging with a special purpose acquisition company (SPAC) in 2021. However, Circle CEO Jeremy Allaire disclosed on Twitter in December 2022 that the company had not completed SEC qualification in time. Despite this setback, going public remains a crucial part of Circle’s long-term strategy, as reaffirmed by a company spokesperson and a recent job posting.

A Circle spokesperson to Blockworks stated, “We are not prepared to put a specific deadline on the decision, but we will be taking steps to continue our journey to go public as soon as practicable.” This commitment is further echoed in a job listing for a corporate counsel, which specifically mentions assisting with the potential SEC process related to going public and supporting the development of public company policies and practices.

Kraken, a leading cryptocurrency exchange, has also expressed its interest in going public. Galaxy Digital, a crypto-focused financial services firm, is another company committed to going public. In March, a spokesperson reaffirmed their plans to become a Delaware-incorporated company and subsequently list on the Nasdaq.

Circle and Kraken’s determination to pursue their IPO plans demonstrates their confidence in the long-term prospects of the crypto industry. Despite the SEC’s actions