According to PANews, Chia Network CEO Gene Hoffman said on Thursday that the company has made progress in its IPO. After the U.S. Securities and Exchange Commission (SEC) sent a comment letter to the company, Chia had secretly submitted a revised S-1 form to the SEC at the end of March. However, as the company hopes to wait for the right market conditions, there is still no definite timetable for the IPO.

According to previous news, Chia revealed its plan to go public in April 2023, but its IPO plan was hindered due to the financial difficulties faced by its underwriter Credit Suisse, resulting in the company laying off one-third of its employees in October last year.

Hoffman also said Chia plans to launch a USDC cross-chain bridge, as well as other infrastructure projects, in the coming months.