The second-largest US-based crypto exchange by trading volume, Kraken, is reportedly considering an initial public offering (IPO) for next year. According to sources familiar with the matter, The Information reports that Kraken is looking to raise $500 million at a valuation of $15 billion.
This valuation represents a significant increase from when the Coinbase challenger was valued at $11 billion in 2022. The report suggests that the high valuation may impact Kraken’s plans to go public, as it may need to attract more institutional investors to support a successful listing.
In March, Bloomberg reported that Kraken is planning a public debut in the first quarter of 2026. This move comes as other crypto companies also consider going public following the election of Donald Trump, who has expressed support for the digital assets industry.
Kraken has already begun releasing its financial figures publicly, demonstrating transparency to potential investors. The exchange stated that it is taking into account the interests of its stakeholders as it moves towards a potential IPO.
“We recently disclosed 2024 financial highlights to be more transparent about our business, which is something we started by being first to publish proof of reserves and we’re going to continue to prioritize going forward. We’ll pursue public markets as it makes sense for our clients, our partners, and shareholders,” said a representative from Kraken.
As Kraken prepares for a potential IPO, investors and industry observers will be closely watching to see how the exchange navigates the public markets. The crypto industry continues to evolve rapidly, and a successful IPO for Kraken could have significant implications for the broader market.
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