Sources: increased SEC scrutiny of Circle, eToro, Galaxy Digital, and other crypto companies have blocked them from going public in the US over the past year (Wall Street Journal)

Wall Street Journal:
Sources: increased SEC scrutiny of Circle, eToro, Galaxy Digital, and other crypto companies have blocked them from going public in the US over the past year  —  Companies including Circle Internet Financial and eToro have failed to secure the regulator's approval  —  Crypto's Crash Has Been Swift but Largely Self-Contained.