IPOs have experienced a resurgence in 2025, and Samuel Kerr notes the bounce back as an important one for companies seeking to join public markets. He notes crypto's accelerating demand as a leading driver for debuting stocks like Circle (CRCL) and Figure (FIGR). Not all companies experienced a smooth road, as Samuel points Klarna (KLAR) as one that struggled. He says valuations will become a bigger focus in upcoming IPOs.