Pantera Capital Says a U.S. Crypto IPO Boom Is Coming — Here’s Why

🚀 The U.S. Crypto IPO Era Might Finally Be Here

After years of dodging the public markets, crypto startups are heading for the NYSE — and Pantera Capital says the moment is now.

CEO Dan Morehead is calling it:

“We expect multiple crypto IPOs in the next six months.”

And this time, Washington isn’t stopping them.

🏛️ What Changed in D.C. — and Why It Matters

U.S. regulators just pulled a rare move: they blinked.

• 📉 The SEC scrapped SAB 121, making it easier for banks to hold crypto
• 🏦 The OCC greenlit blockchain activity for banks
• 🧠 Translation: U.S. policy is finally turning pro-blockchain

According to Morehead, this isn’t just PR. It’s a regulatory shift that clears the runway for public listings.

📈 Who’s Going Public First? Circle and Figure

Pantera’s portfolio is locked and loaded.

🪙 Circle

The issuer of USDC, the world’s #2 stablecoin. A longtime IPO candidate, now ready to launch.

🏠 Figure

The fintech juggernaut using blockchain to process 40B+ in home loans. Figure proves that blockchain works — even in the buttoned-up world of mortgage finance.

It’s not hype. It’s real revenue. Onchain.

💰 Why Crypto IPOs Hit Different in 2025

For years, U.S. crypto companies were boxed out of capital markets. Now?

• 📜 Legal clarity is emerging
• 🧲 Institutional demand is real
• 💼 Crypto firms are profitable, with global user bases

Going public isn’t just about exit liquidity. It’s about legitimacy, access, and scaling to the next tier.

🌐 The Global Stakes: Can the U.S. Lead Again?

Crypto giants have been fleeing to:

• 🇸🇬 Singapore
• 🇦🇪 UAE
• 🇭🇰 Hong Kong

But the U.S. isn’t out of the race yet. Pantera Capital is actively shaping U.S. policy, working with think tanks and regulators to build the framework Web3 needs.

This isn’t just about profit. It’s a geopolitical power play — and the U.S. wants back in.

🧠 The Bottom Line, From Dan Morehead:

“We’re not just investors — we’re helping create the legal frameworks that allow blockchain to thrive in the U.S.”

If Circle, Figure, and others go public? That’s not just a win for crypto. It’s the moment Wall Street, Washington, and Web3 finally shake hands.

🧠 TL;DR: Crypto IPOs Are Coming — and the U.S. Is Back in the Game

• 🚨 Pantera Capital predicts a wave of crypto IPOs in 2025
• 🏛 SEC & OCC soften tone, clearing the path for public listings
• 🪙 Circle (USDC) and 🏠 Figure (blockchain mortgages) are leading the charge
• 💸 Crypto startups are profitable, global, and IPO-ready
• 🇺🇸 The U.S. may reclaim its crypto leadership — if it plays smart

Lesson: The exit door isn’t offshore anymore. It’s straight onto the New York Stock Exchange.

Blockchain is going public — and it’s bringing regulation, capital, and Wall Street with it.