Kraken, the second largest cryptocurrency exchange in the United States, is reportedly getting ready for an IPO and is currently in discussions for pre-IPO financing, as reported by Bloomberg.
In the past, Coinbase made its public debut during the peak of the cryptocurrency market, and now Kraken seems to be following suit. The exchange is aiming to secure over $100 million in funding during this round. With digital currencies hitting new record highs and regulatory hurdles in the US starting to ease, companies in the crypto sector are once again attracting investor interest and considering going public.
Sources familiar with the matter suggest that the fundraising process is expected to be finalized by the end of the year, potentially through a pre-IPO round. Kraken, however, has not officially commented on the fundraising or IPO plans, stating that they are constantly exploring strategic avenues to advance the global adoption of cryptocurrencies.
Kraken is reportedly seeking a prominent figure to join its board to facilitate a successful IPO in early 2023.
*Note: This is not financial advice.
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