Kraken, one of the world’s largest and oldest cryptocurrency exchanges, is reportedly considering a final funding round before potentially going public. Sources familiar with the matter have revealed to Bloomberg that the San Francisco-based exchange is contemplating a pre-IPO round following interest from potential investors.
The fundraising effort, expected to exceed $100 million, is anticipated to be completed by the end of the year. The exchange is actively seeking a prominent company to join its board and assist in launching a successful IPO as early as next year.
Discussions between Kraken and potential investors have been informal, with no formal documentation of terms and valuations. Despite considering an IPO for several years, previous attempts were hindered by crypto market downturns and regulatory challenges with the SEC.
The news of Kraken revisiting the idea of an IPO comes at a time of a bullish market that could lead to record-high crypto prices and generate $1 billion to $2 billion in revenue for the exchange this year. Kraken has chosen not to comment on its fundraising and IPO plans, stating their commitment to advancing the global adoption of cryptocurrencies.
Stay informed by subscribing to receive email alerts from The Daily Hodl. Follow us on various social media platforms to stay updated on price action and market trends. Remember to conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Your financial decisions are your own responsibility, and The Daily Hodl does not provide investment advice. Please be aware that we participate in affiliate marketing.
