Kraken’s Road to an IPO: Why the Exchange Wants to Go Public Now
Cryptocurrency exchange Kraken is moving forward with a confidential IPO filing just days after raising $800 million, a move that caught many by surprise. This decision comes as U.S. regulators are signaling clearer rules for the crypto market, which could attract institutional investment. The filing follows public offerings from competitors Bullish and Gemini and indicates Kraken's confidence in a market recovery despite recent corrections, such as Bitcoin's drop from $126,000 to around $91,000. With a potential regulatory framework from the CFTC that includes Bitcoin and Ethereum, Kraken aims to enhance its position in the market. Securities attorney Megan Penick noted that Kraken could finalize its IPO within six months, although a backlog at the agency might delay its debut into 2026.
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