OpenAI IPO Delay Sparks Selloff in AI Cryptocurrencies

Reports of OpenAI's potential initial public offering (IPO) delay sent shockwaves through the decentralized artificial intelligence cryptocurrency market. On June 26, news spread that the ChatGPT creator was planning to postpone its public listing until next year.

The company had initially aimed for a third or fourth quarter IPO this year, with some reports suggesting it had already lined up bankers and lawyers to facilitate the process. However, recent developments in the tech sector have tempered OpenAI's ambitious goal of achieving a massive $1 trillion valuation.

According to Detik Finance reports, financial advisers warned that retail enthusiasm for OpenAI shares could prove thin. This caution emerged after observing performance trends from other prominent market debuts, such as SpaceX's recent public listing, which raised over $85 billion at a $1.77 trillion valuation but saw its shares slump to $153 from a high near $202.

Although OpenAI has no official listed token, the digital asset category felt the chill almost uniformly as news spread. Data from CoinMarketCap showed significant losses across major decentralized networks and protocols, including NEAR Protocol, which fell 8.51 percent to $1.77, marking the steepest drop among major tokens.