Kraken Considers Final Funding Round Before Potential IPO: Report

Kraken, one of the world’s largest and oldest crypto exchanges, is reportedly considering a final funding round before potentially going public. According to sources familiar with the matter, the San Francisco-based exchange is contemplating a pre-IPO round to raise over $100 million, with the fundraising expected to be completed by the end of the year.

The exchange is said to be looking for a “marquee” company to join its board and help kick off a successful IPO as early as next year. Talks with potential investors have so far been informal, with discussions revolving around terms and valuations.

Kraken has been considering an IPO for years, but previous crypto downturns and regulatory issues with the SEC have delayed those plans. However, with the current bull market pushing crypto prices to new highs, the exchange could see revenue of $1 billion to $2 billion this year.

While Kraken has declined to comment on its fundraising and IPO plans, the company stated, “We are always exploring strategic paths toward Kraken’s Mission: accelerating the global adoption of crypto. We remain fully focused on investing in this goal.”

This news comes at a time of heightened interest in the crypto market, with investors closely watching the developments at Kraken. Stay tuned for more updates on this story as it unfolds.