PANews reported on January 14th, citing Bloomberg, that Bitpanda GmbH, a cryptocurrency trading platform backed by billionaire Peter Thiel, is preparing for an initial public offering (IPO) in Frankfurt as early as the first half of this year. The company is seeking a valuation between €4 billion and €5 billion in the IPO. Bitpanda has hired Goldman Sachs, Citigroup, and Deutsche Bank to arrange the offering, and it is reportedly likely to list in the first quarter of this year. Sources said that no final decisions have been made, and specific details of the offering, including the timing, are still subject to change. A Bitpanda representative stated that an IPO is one of the options the company is considering for further development but declined to comment further. Representatives from Goldman Sachs, Citigroup, and Deutsche Bank all declined to comment.
Founded in 2014, Bitpanda offers retail trading services for cryptocurrencies, stock derivatives, and commodities. In August 2021, the company raised $263 million from investors including Thiel's Valar Ventures, valuing it at $4.1 billion at the time. The company boasts 7 million users and is the official cryptocurrency trading partner of Arsenal Football Club.


Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more
