CoinsAQ summary · neutral
IPO volume hits levels last seen in 1929 and 2000, and crypto markets are building the on-ramp
What happened
US IPO activity surged 54% in 2025, drawing bubble comparisons from Ray Dalio while crypto platforms quietly tokenized the frenzy into billions in synthetic pre-IPO trading volume. The US IPO market just posted its most aggressive year since the dot-com era. In 2025, 347.
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