TechFlow News, June 26: According to CoinDesk, Goldman Sachs reported that U.S. IPO activity in 2026 doubled year-on-year, with approximately 50 companies having gone public and total issuance value reaching about $120 billion—matching the full-year record set in 2021. Ben Snider, Goldman Sachs’ Chief U.S. Equity Strategist, noted that this recovery is primarily driven by a wave of large-company listings and financing demand spurred by AI development—a “normal recovery” fundamentally distinct from the speculative frenzy of the dot-com bubble. Currently, the average annual number of IPOs stands at roughly 100, far below the 250 in 2021 and nearly 400 at the peak of the 1999 bubble.
Notably, several crypto firms—including Payward (Kraken’s parent company), Consensys, Ledger, and Grayscale—have postponed or suspended their IPO plans amid market volatility and underwhelming post-listing performance. Meanwhile, high-profile AI- and tech-focused IPOs such as SpaceX are successfully drawing institutional capital away from the crypto market and into other sectors, exerting downward pressure on tokens and crypto-related equities.
