Either way, why not the US? It has been far more open to the crypto industry as a country than China is, so they stand to raise more money.
it depends on the state of the bitcoin market. in these bearish conditions, canaan couldn't even raise 1/4 of its IPO target---the public launch was very much a flop. timing is everything!
the compliance costs of IPO'ing in the USA are pretty astounding too. underwriting, legal, auditors, exchange listing and SEC registration fees, incorporation and other organizational costs, etc etc.......we're talking millions of dollars.
https://www.ipohub.org/costs-going-public/there are jurisdictions with less red tape and regulatory costs/scrutiny. that's one angle to consider anyway.