Clear Street has postponed its planned U.S. initial public offering, citing current market conditions. The New York-based brokerage had already reduced the size of its Nasdaq offering to $364 million from an earlier target of $1.05 billion. At the top of the revised range, the company would have secured a valuation of about $7.2 billion, down from its previous goal of $11.8 billion. The firm stated it intends to revisit the listing later. Market sentiment has weakened in recent weeks following sharp declines in software, IT, and financial stocks, with investor caution rising around AI-driven valuations and broader risk assets.
The postponement follows similar moves by other issuers, including Blackstone-backed Liftoff Mobile, which delayed its listing, and Brazilian fintech Agibank, which reduced its offering after weak trading by rival PicPay. Analysts noted that the selloff in financial and crypto markets may have further dampened demand, particularly given Clear Street’s involvement in crypto-related capital raises. Founded in 2018 as a prime brokerage platform, the company has since expanded into investment banking.
