Returns from new US listings have waned considerably this quarter and the crypto crash has made recent initial public offerings (IPOs) in the sector among the biggest casualties, creating a higher bar for companies such as Grayscale Investments and BitGo Holdings to go public in the near future. Shares of US IPOs raising more than US$50 million, excluding vehicles such as closed-end funds and blank checks, have fallen an average of 5.3 per cent this quarter, compared to the S&P 500 Index which is up 0.9 per cent. Of those, the five crypto companies that have gone public this year are down an average of 31 per cent ... (full story)