Peter Thiel-Backed Bitpanda Rejects UK Listing, Eyes Frankfurt or New York

Bitpanda, the cryptocurrency exchange supported by billionaire investor Peter Thiel, has dismissed the UK as a potential listing destination due to poor liquidity on the London Stock Exchange. CEO Eric Demuth confirmed the decision in an interview with the Financial Times, emphasizing Frankfurt or New York as preferred venues for a future public offering.

The London Stock Exchange's weakening appeal was underscored by Demuth, who cited the recent exodus of companies like British fintech Wise to New York in pursuit of deeper liquidity and investor demand. The LSE's struggles coincide with a dismal year for UK IPOs, with fundraising hitting a 30-year low in 2025.

Bitpanda's stance reflects broader market trends as exchanges and investors pivot toward jurisdictions with more robust capital markets. The move signals growing scrutiny of liquidity conditions in traditional financial hubs as crypto firms weigh their public listing strategies.