NewsHK
The public-market track record for crypto exchanges has deteriorated sharply since Gemini went public in September 2025, its stock now down 87% from the debut.
Payward, the Wyoming-based parent of Kraken, has pushed its own initial public offering to the second quarter of 2027 at the earliest, the second time the company has delayed the listing.
Payward filed confidentially with the U.S. Securities and Exchange Commission in November 2025, shortly after Bitcoin hit an all-time high of $126,000.
The first postponement came in March, when the company cited difficult market conditions and falling cryptocurrency prices.
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