Crypto Exchange Kraken Files for IPO Following $800 Million Raise

American cryptocurrency exchange Kraken has officially filed to go public, announcing this just after securing $800 million in a funding round that values the company at $20 billion. The company confidentially submitted a draft S-1 registration form with the SEC for its initial public offering (IPO), although it has not yet established specifics about the number of shares or the anticipated price range. This move follows months of speculation regarding Kraken's plans for a public offering, particularly after the SEC dropped a lawsuit against them concerning its staking services. The fundraising effort was reportedly led by significant players from the finance sector, including Citadel and several venture capital firms. This development positions Kraken for a substantial entry into the public market, potentially setting a precedent for other cryptocurrency exchanges and firms in the industry.

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