Kraken is reportedly seeking to raise more than $100 million before the IPO. The operation could be completed by the end of 2024.
According to Bloomberg, the Kraken exchange is currently in the pre-IPO fundraising phase and aims to surpass $100 million. The operation could be completed by the end of the year, before the planned IPO launch in 2025.
Kraken is currently seeking a major company to join its board of directors and organize the IPO.
Rumors of a Kraken IPO have been circulating since at least February 2021, when Bloomberg reported that the company could debut on the market with a $10 billion valuation. However, over the past few years, the exchange has had to face several allegations from the U.S. Securities and Exchange Commission (SEC). In November 2023, the SEC filed a lawsuit against Kraken, claiming that the exchange operates an unregistered platform and improperly manages client funds.
Kraken has neither confirmed nor denied the news reported by Bloomberg but stated:
“We are always exploring strategic paths toward Kraken’s Mission: accelerating the global adoption of crypto. We remain fully focused on investing in this goal.”
