Bitpanda raised collective brows in European fintech corridors by opting out of public UK listings. But why did Bitpanda snap the UK as a potential listing venue?

The Vienna-based fintech platform, backed by billionaire Peter Thiel, has found it cited low liquidity on the London Stock Exchange (LSE) as the main reason for opting out of its original plan.

According to a report published by the Financial Times on August 26, 2025, Bitpanda CEO Eric Demuth said the company will instead focus on the venue of choice when either Frankfurt or New York proceeds to hold the public offering.

The timeline is not official, but London is definitely off the list.

bity bitpanda, a crypto exchange backed by billionaire investor Peter Thiel, has become the latest company to rule out London’s listings and avoid the UK’s capital markets due to lack of liquidity in stock trading. pic.twitter.com/go14oxx4x2

– Marcel van Oust (@OOST_MARCEL) August 26, 2025

Dems confirmed that it wasn’t just the company that shelved its London plans. According to Demuth, many companies are moving away from LSE.

He pointed out British fintech Wise and recently moved his major list to New York after a shareholder vote. British Fintech has moved primarily due to deeper capital pools and requirements for increasing market liquidity.

In addition to this, he acknowledged the London Bulls’ ongoing struggle to attract adequate trading volume and investor depth.

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London’s trading scene looks dry: British IPO market plunges to the lowest point in 30 years

Given that London is struggling to maintain its position as a major IPO destination, the Bitpanda UK exit appears to be a fair business decision.

The UK IPO market plunged to the lowest point raised in the first half of 2025, from just £160 million to £162.8 million (2267.8m).

The funding environment remains weak even after considering secondary provision.

Demuth explained that while Bitpanda recently entered the UK market, it still draws its main source of revenue from the European continent.

At the beginning of June, Carie Osman, founder and CEO of Growth Consultancy company Cruxy, repeatedly fell in LSE.

According to OSMAN, there are several reasons why companies are delisting from LSE. There are structural ones, but the main issue is lack of fluidity.

Her remarks came after Qualcomm’s acquisition of UK-based semiconductor company Alphawave Semi.

She said the UK’s weaker investment culture is hindering LSE compared to the US, where people often invest through the 401(k) plan.

On GlobalData’s Instant Insights Podcast, she said: “I was looking at some facts. I thought it was very interesting in the UK, for example, that about 23% of adults have stocks and stakes. If you compare that to the US, it’s 62%.”

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Bitpanda UK’s departure reflects broader industry trends

Bitpanda SideSteping UK shows a wide range of industry trends where businesses are moving to greener pastures in search of greater liquidity, regulatory clarity and investor depth.

The US and continental Europe have emerged as public hotspots due to the receptive regulatory environment and institutional interest.

The New York Stock Exchange (NYSE) and NASDAQ have become magnets for native crypto companies due to friendly policies and institutional capital inflows under the Trump administration.

Earlier this year, USDC Stablecoin publisher Circle raised $1.05 billion in NYSE at a $8 billion valuation. Gemini and Bitgo follow suit to list them in the US. Meanwhile, this month is another Tiel support exchange that was released on the NYSE.

The contrast with the LSE is severe. The UK aims to lead fintechs, but the IPO market continues to struggle with thin trading volumes and low investor appetite, raising questions about the viability of high-growth tech companies.

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A controversial 48-49 Senate vote on Thursday to reject the GENIUS Act has sparked an immediate backlash from U.S. Treasury Secretary Scott Bessent, who condemned the decision as a “historic misstep” with global consequences.

In a strongly worded post on X (formerly Twitter) on May 9, Scott Bessent condemned the Senate’s failure to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, arguing it squandered a rare chance to lead the global stablecoin market.

“The world needs American leadership,” Bessent wrote. “The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act.”

Did the Senate Just Kill U.S. Crypto Dominance?

Scott Bessent labeled the bill a “once-in-a-generation opportunity” to assert dollar dominance through innovation.

He criticized the Senate for allowing state-by-state regulatory fragmentation to persist and warned that digital asset development could shift abroad without a unified federal framework.

The GENIUS Act, introduced in February by Senator Bill Hagerty (R-TN) and co-sponsored by prominent Republicans, including Chairman Tim Scott (R-SC) and digital assets advocate Senator Cynthia Lummis (R-WY), sought to provide a comprehensive federal framework for the issuance and regulation of stablecoins in the United States.

Despite early bipartisan momentum, the bill failed a procedural vote on May 8 after Senate Democrats abruptly pulled support over national security concerns, AML provisions, and last-minute resistance from key lawmakers.

Senator Mark Warner (D-VA), who opposed the bill, said its text was “not yet finished,” while others hinted at deeper political friction.

The Unspoken Political Tensions Fueling the GENIUS Act’s Demise

Some Democrats privately expressed discomfort with President Trump’s recent pro-crypto involvements, which they feared had tainted the legislative process with political overtones.

The bill’s failure has cast a shadow over the future of stablecoin regulation and broader crypto legislation, particularly ahead of the 2026 midterms when all House seats and one-third of the Senate will be up for grabs.

Senator Cynthia Lummis, a key co-sponsor, voiced her disappointment on X, stating that failing to pass the GENIUS Act was a step backward in securing America’s digital future.

John Deaton, a well-known pro-XRP lawyer, called on lawmakers to rise above partisan divisions. “Senators need to place the country first, not politics. This bill had bipartisan support just a week ago. What happened?”

Decentralization vs. Control: The Ideological Clash Central to Stablecoin Debates

Ethereum co-founder Vitalik Buterin, while not directly commenting on the GENIUS Act, had previously warned against “centralized stablecoins becoming a tool for geographical control.” The implication is that a U.S.-denominated stablecoin framework could undermine crypto’s decentralized ethos.

Lawmakers argue that stablecoins like Tether’s USDT require oversight to prevent criminal exploitation.

In addition, according to a previous report, stablecoins make up the bulk of illicit transaction volume in 2024.

The collapse of TerraUSD further fueled debate. The crash erased $40 billion in value, raising concerns about consumer risks in decentralized systems. Proponents of regulation cite TerraUSD as evidence that even decentralized models can fail, leaving users vulnerable.

However, critics note a contradiction. Many “decentralized” stablecoins still depend on centralized elements, such as development teams or governance structures. The result is a paradox, as blockchain systems designed to eliminate trust still rely on it, just in different hands.

Frequently Asked Questions (FAQs)

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