Crypto Exchange Kraken Eyes $100m Pre-IPO Raise
Top crypto exchange Kraken is in discussions for a final funding round before going public.
Kraken is looking to raise around $100 million ahead of launching an initial public offering (IPO), according to Bloomberg’s sources. People familiar with the matter suggest that Kraken could conclude the funding round by the end of the year.
A Kraken spokesperson declined to comment on the matter when contacted by crypto.news.
Kraken is a crypto titan with a long history of servicing the nascent industry and spearheading advancement. However, given unresolved legal tension, it’s unclear what its latest fundraising efforts might yield.
Specifically, the U.S. Securities and Exchange Commission (SEC) sued Kraken last year for allegedly commingling client assets with corporate funds and operating an unregistered securities exchange. The company denied the allegations and is currently fighting the SEC, along with industry colleagues like Coinbase, which face similar allegations.
A few American-based crypto companies plan IPOs as regulatory winds shift in the U.S. ahead of the winter presidential elections. In January, stablecoin issuer Circle filed its IPO after a previously failed attempt through a special purpose acquisition company (SPAC) agreement.
While not a crypto-native company, social network Telegram has accrued a blockchain spotlight for its affiliations with The Open Network (TON). The platform also has an IPO in the works.
Ether Surges 16% Amid Speculation Of US ETF Approval
New York, USA – Ether, the second-largest cryptocurrency by market capitalization, experienced a significant surge of ... Read more
BlackRock And The Institutional Embrace Of Bitcoin
BlackRock’s strategic shift towards becoming the world’s largest Bitcoin fund marks a pivotal moment in the financia... Read more
Robinhood Faces Regulatory Scrutiny: SEC Threatens Lawsuit Over Crypto Business
Robinhood, the prominent retail brokerage platform, finds itself in the regulatory spotlight as the Securities and Excha... Read more
Dogecoin Gains 26% This Week; Will DOGE Price Revisit The $0.27 Barrier?
Dogecoin (DOGE) has exploded with a 26% gain this week, capturing widespread attention as it climbs to approximately… Read more
Solana Price Surges 22%; SOL Sets Sights On $250 Next Week
Solana’s (SOL) recent price action has captivated the market as the cryptocurrency saw a 22% weekly surge, climbing… Read more
Meet Richard Farley, Top Contender To Replace SECs Gary Gensler In Trumps List
Richard Farley, a well-known Wall Street lawyer, has recently emerged as a possible candidate to head the U.S.… Read more