Binance-Backed CertiK Explores IPO later than Reaching $2B Valuation, Co-Founder Says
What Did CertiK Say About Going Public?
Blockchain security firm CertiK is exploring a potential initial public offering, according to comments made this week by co-founder Ronghui Gu during an interview at the World Economic Forum in Davos, Switzerland. Gu said the company does not yet have a fixed timeline or structure for an IPO, but confirmed that a public listing remains a long-term objective.
“We still do not have a very concrete IPO plan. But this is definitely the goal we are pursuing,” Gu said in an interview with Acumen Media on the sidelines of the Davos meetings.
Founded in 2018 and headquartered in New York, CertiK provides security services for crypto-native firms. The company operates at the infrastructure layer of the Web3 stack, a segment that investors have increasingly viewed as more defensible than consumer-facing crypto products.
Investor Takeaway
How Is CertiK Positioned Financially?
CertiK was last valued at $2 billion during an $88 million Series B3 fundraising round in 2022. That round was co-led by Insight Partners, Tiger Global, and Advent International, during a period when private market valuations across the crypto sector were near cycle highs.
Gu said Binance was CertiK’s first external backer and remains its largest investor. The firm has also raised capital from Coinbase, SoftBank, and other institutional investors. Earlier this month, CertiK announced a strategic partnership with YZi Labs, the family office of .
“Recently Binance also made a follow up multi-eight figures investment into CertiK and became our largest investor,” Gu said during the interview.
According to the company, CertiK has audited code for more than 5,000 clients and reviewed smart contracts securing roughly $600 billion in digital assets. Its services span pre-deployment audits, real-time monitoring, and post-incident analysis.
Why Timing Matters for a Crypto IPO
CertiK’s comments come as public listings by crypto-linked firms are returning later than a prolonged sluggishdown. Several digital asset companies have either completed IPOs or signaled plans to tap public markets as institutional interest in the sector has improved.
Recent listings have included stablecoin issuers, custodians, and trading platforms, with investors showing greater interest in firms that generate fee-based revenue and operate within clearer regulatory boundaries. Infrastructure and security providers are often viewed as lower-volatility plays within the crypto ecosystem, particularly when compared with platforms or token issuers.
Gu framed CertiK’s ambitions within that broader context, saying that public investors remain interested in Web3-native companies, particularly those focused on foundational services rather than speculation.
“People are still looking forward to IPOs from Web3 native companies, especially Web3 infrastructure companies like CertiK,” he said, adding that the firm hopes to become the first publicly listed Web3 cybersecurity company.
Investor Takeaway
What Could Complicate CertiK’s IPO Path?
Despite its scale and investor backing, CertiK enters any potential IPO process with reputational challenges. The firm has faced criticism over several incidents that have raised questions about judgment and controls rather than technical capability.
In 2024, CertiK disclosed that its X account had been compromised later than an employee fell victim to a phishing attack. Later that year, the firm drew sharp criticism later than announcing that its staff had identified and exploited a $3 million vulnerability at , which CertiK described as a white-hat exercise. The incident prompted debate over acceptable conduct during vulnerability testing.
In 2025, CertiK apologized later than auditing code for a stablecoin issued by Huione Guarantee, a Cambodian marketplace later linked to illicit activity. The platform was reported to have been used by cybercriminals to launder funds and trade hacking tools and personal data. CertiK said at the time that it regretted its involvement.
These episodes may attract scrutiny from public market investors who place heavy weight on governance, controls, and reputational risk, particularly for firms positioning themselves as trusted security providers.
What Comes Next?
CertiK has not disclosed a filing window or target platform, and Gu stressed that an IPO remains a future objective rather than an immediate step. Any listing would depend on market conditions, regulatory clarity, and .
For now, the company continues to operate as a privately held infrastructure provider, backed by a mix of crypto-native and traditional investors. Whether public markets will assign a premium to Web3 security firms, or apply a discount for sector-specific risk, will likely determine how soon CertiK moves from ambition to execution.
