Bitpanda, backed by Peter Thiel, refuses to list in the UK due to liquidity reasons.

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Bitpanda, the cryptocurrency exchange backed by billionaire Peter Thiel, will not choose London as its listing location due to weak liquidity on the London Stock Exchange (LSE). CEO Eric Demuth stated that the company will consider Frankfurt or New York for its IPO, emphasizing that London is no longer attractive. He pointed out that many businesses like Wise have moved their listings to America to seek better liquidity and investment demand.

The IPO market in the UK is experiencing a severe downturn, falling to its lowest level in three decades, raising only around £160–182.8 million in the first half of 2025, compared to £8.8 billion in 2021. Bitpanda has also just started operations in the UK and is still primarily generating revenue from continental Europe.

The general trend shows that cryptocurrency companies are increasingly favoring America and continental Europe, where there is higher liquidity, open policies, and abundant institutional capital.

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