Contact Information

Theodore Lowe, Ap #867-859
Sit Rd, Azusa New York

We Are Available 24/ 7. Call Now.

Share this article

Major crypto exchange Kraken is exploring raising over $100 million before a potential initial public offering (IPO), Bloomberg reported on Thursday, citing anonymous sources familiar with the situation. The plan comes amid renewed investor interest in the crypto market and potential regulatory easing in the US.

“We are always exploring strategic paths toward Kraken’s Mission: accelerating the global adoption of crypto,” Kraken stated. “We remain fully focused on investing in this goal.”

As reported, Kraken’s IPO could happen as soon as next year, subject to finding a suitable board member and completing fundraising. The company previously discussed going public, but its plans were held back by past crypto downturns and regulatory hurdles.

Last year, Kraken settled with the SEC over charges related to its staking-as-a-service offering. Still, the exchange faces another dispute with the agency.

The SEC accused Kraken of operating as an unregistered securities broker-dealer, clearing agency, and exchange—similar charges to those filed against Coinbase. In a court filing in May, Kraken denied the SEC’s allegations, claiming that the digital assets traded on its platform are not securities.

Over the past few months, US regulators and politicians have taken a more favorable stance toward crypto. Notably, the SEC greenlit spot Bitcoin exchange-traded funds and is progressing towards approving Ether-based funds.

Although engagement with potential investors remains at an early stage, Kraken is optimistic. With the recent crypto rally, the company is projected to generate between $1 billion and $2 billion in revenue this year.

Share this article

Source link



Leave a Reply

Your email address will not be published. Required fields are marked *