TechFlow News, February 13: According to Reuters, Wall Street broker Clear Street announced the postponement of its U.S. initial public offering (IPO), originally scheduled for Friday, citing “market conditions.” Just hours earlier, the company had significantly scaled back its Nasdaq IPO size from an initial target of $1.05 billion to $364 million. At the upper end of the revised range, Clear Street’s valuation stands at approximately $7.2 billion—down from its previous target of $11.8 billion.
According to IPOX analysts, recent selloffs in AI-driven financial stocks may have eroded investor confidence, while the sharp decline in cryptocurrency markets has also had an impact—particularly because Clear Street served as a lead underwriter for several cryptocurrency fundraising efforts, including Strategy’s latest product. Founded in 2018, Clear Street stated it plans to revisit its IPO plans at a later date.
