Chia Network Makes Progress Toward an IPO, CEO Says

Chia Network (XCH), which uses a novel consensus mechanism for running its blockchain, has made progress toward getting its stock trading through an initial public offering, its CEO said Thursday. The company confidentially filed an amended S-1 form with the U.S. Securities and Exchange Commission at the end of March, after the regulators sent a comment letter to the company, CEO Gene Hoffman said at a conference hosted by law firm Brown Rudnick in Manhattan. Chia revealed in April 2023 that it wanted to go public, though its IPO plans took a detour because of financial distress at Credit Suisse, its underwriter.

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