BlockBeats news, on February 13, according to Reuters, the underwriter Clear Street announced the postponement of the U.S. IPO originally scheduled for Friday due to "poor market conditions." In addition, the company has significantly reduced its Nasdaq IPO fundraising target from the initial goal of $1.05 billion to $364 million. After the reduction, Clear Street's valuation is approximately $7.2 billion, down from the previous target valuation of $11.8 billion.
Clear Street has become one of the main underwriters for cryptocurrency-related stock offerings in recent years, having provided underwriting services for several crypto treasury companies, including multiple stock offerings for Strategy, and also served as the underwriter for Trump Media & Technology Group.
