Crypto exchange Kraken, the second largest in the US by trading volume, is reportedly planning a big move. Sources say the company is aiming for an initial public offering (IPO) sometime next year.
A $15 Billion Valuation
The plan is to raise $500 million, valuing the company at a hefty $15 billion. That’s a significant jump from its $11 billion valuation in 2022. This valuation, however, might be a hurdle. Securing enough institutional investors to support such a high price tag could be challenging. This new funding round is intended to address that.
IPO Timeline and Trump’s Influence
Bloomberg previously reported that Kraken was targeting a Q1 2026 public debut. This interest in going public follows a trend among other crypto companies, possibly influenced by Donald Trump’s election and his pro-crypto stance.
Transparency and Stakeholder Interests
Kraken is already boosting transparency by publicly releasing its financial information. The company says it’s considering the interests of all its stakeholders as it moves forward with its IPO plans. They’ve emphasized their commitment to transparency, citing their early adoption of proof-of-reserve publishing as an example. They will continue to prioritize this approach.