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Kraken’s Road to an IPO: Why the Exchange Wants to Go Public Now
- On Wednesday, Kraken confidentially filed with the U.S. Securities and Exchange Commission to pursue a U.S. IPO following an $800 million raise announced Tuesday that valued the crypto exchange at $20 billion and included $200 million from Citadel Securities.
- Kraken, founded in 2011, is positioning itself for public markets but has not set the number of shares or price range, and a Kraken spokesperson declined to comment on timing.
- More than 450 tradable digital assets are available on Kraken, and clients can also trade tokenized equities in the European Union, highlighting its product diversity.
- The move would join a renewed wave of crypto-linked IPOs in the U.S. this year, as recent public-market successes include Circle raising just north of $1 billion in June.
- Amid crypto-friendly policy moves from the Trump administration, firms have renewed IPO interest, with analysts expecting many to go public before the midterm elections next year.
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Kraken Files for Potential US IPO
The filing was made on Form S-1 and marks the company’s first formal step toward a public listing. The cryptocurrency exchange said key details, including the number of shares to be offered and the price range, have not yet been determined. The IPO is expected to take place once the SEC completes its review process, subject to market conditions and other factors. Kraken emphasised that the announcement does not constitute an offer to sell securi…
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