Alameda Research was a hedge fund founded by Sam Bankman-Fried, one of the former stars of the crypto world. But with the collapse of the FTX exchange in 2022, Alameda Research was also discredited with accusations of embezzlement and misuse of funds.

GDA’s IPO planning in this environment can be considered a bold step in the cryptocurrency market. According to Bloomberg, the company is trying to speed up the process by meeting with consultants. There is even talk of a pre-IPO investment round being planned in the coming weeks. However, an exact date has not been specified yet and it is not clear whether the company will complete its public offering by the end of 2024.

Founded in 2013, Genesis Digital Assets has raised over $1.61 billion in total funds to date. The most notable of these funds was the $1 billion Alameda Research investment in April 2022. This investment increased GDA’s valuation to approximately $5.5 billion.

The company currently operates more than 20 data centers located in North America, Europe, Central Asia and South America. The total power capacity of these data centers exceeds an impressive 500 megawatts.

It remains unclear how the Alameda Research scandal will affect GDA. The collapse of the FTX exchange and Alameda’s accusations damaged investors’ confidence in the cryptocurrency markets. This situation has cast a shadow over the future plans of crypto-focused companies like GDA.

However, GDA’s IPO attempt may indicate an optimistic atmosphere in the cryptocurrency market. The recent increase in the value of many cryptocurrencies, especially Bitcoin, is an indication that investors have become interested in this market again.

If GDA can successfully complete the IPO process, this could send a positive signal to the cryptocurrency industry and help restore investors’ confidence in cryptocurrencies.

But GDA has significant obstacles to overcome. Alameda Research’s investment in the company’s history may raise questions in the minds of potential investors. The shadow of this investment may negatively affect GDA’s success in the IPO process. Additionally, the volatile nature of cryptocurrency markets may lead to a risky situation in terms of the timing of the public offering. Large value changes experienced by cryptocurrencies, especially Bitcoin, in short periods of time may cause investors to hesitate.

Whether GDA will be able to overcome these difficulties and realize a successful public offering will be closely monitored in the coming period. If successful, this could change the traditional financial industry’s perspective on cryptocurrencies and lead to more cryptocurrency-focused companies attempting IPOs in the future.

However, if it fails, confidence in the cryptocurrency markets may be shaken and investors may become cautious. GDA’s effort to list on US exchanges could be an important turning point for the future of the cryptocurrency market.