Kraken Plans to Attract $100M Before its IPO

United States-based crypto exchange Kraken is reportedly considering a funding round to raise more than $100 million ahead of a potential initial public offering (IPO).

The exchange has been facing a civil lawsuit from the US Securities and Exchange Commission (SEC) since November 2023, which alleges that Kraken operated as an unregistered exchange and violated US securities laws.

However, Kraken has not yet made a comment specifically on a potential IPO, stating that it is “always exploring strategic paths” towards global crypto adoption.

In the past, Kraken has expressed a preference for a direct listing rather than going through a special-purpose acquisition company, similar to how Coinbase went public in 2021 on the Nasdaq.