Key Highlights
- CertiK plans an IPO to become the first publicly listed company focused on Web3 security.
- Binance is now CertiK’s largest investor, supporting its growth and expansion of enterprise security products.
- The company has audited over 4,200 blockchain projects, safeguarding more than $340 billion in digital assets.
CertiK, a New York-based blockchain security firm, is planning an initial public offering as it continues to grow its business and attract major investors.
Speaking at the World Economic Forum on Thursday, CEO and co-founder Ronghui Gu described the move as a “natural next step” as the company seeks to bridge the gap between decentralized technology and traditional institutional finance. He told Acumen Media, “ We still do not have a very concrete IPO plan but this is definitely the goal we are pursuing.”
He explained that the firm remains committed to strengthening the trust, security, and transparency that regulators, institutions, and users expect from the Web3 ecosystem.
Strong backing from Binance
Cerkit has reportedly raised $296 million since it was founded in 2018 and reached a valuation of over $2 billion by early 2022. Recently, the firm partnered with YZi Labs, the family office of Binance founder Changpeng Zhao.
“Recently, Binance also made a follow-up multi-eight-figures investment into CertiK and became our largest investor,” Gu said. The funding is expected to help CertiK expand its products and meet the requirements for institutional clients.
Moreover, Certik is expanding Skynet Enterprise, a security platform designed for regulators and large financial institutions. The firm is also growing its auditing business through formal verification technology powered by its proprietary Spoq engine, which uses artificial intelligence to improve efficiency.
To date, CertiK has audited more than 4,200 blockchain projects and safeguards over $340 billion in digital assets.
CertiK joins IPO trend
CertiK’s IPO bid follows a broader wave of crypto firms going public. Last year, Circle raised $1 billion through its IPO, while companies such as Bullish, Gemini, Galaxy Digital, Figure, and Exodus also entered public markets. More recently, BitGo raised $213 million in its IPO, and firms like Kraken, Ledger, Consensys, and Animoca Brands are preparing their offerings.
The IPO push comes as investors seek more access to crypto infrastructure and service providers.
Addressing past controversies
CertiK has faced multiple controversies in recent years. In 2024, the company’s X account was hacked. It also faced criticism for exploiting a $3 million bug at the crypto exchange Kraken, which it called a “whitehat” test. Later, CertiK apologized for working with a Cambodian marketplace linked to illegal activity.
Despite these issues, the company is moving forward with its IPO plans. This IPO could allow CertiK to connect Web3 security with traditional finance and offer investors exposure to the infrastructure behind decentralized applications.
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