The second-largest US-based crypto exchange by trading volume is reportedly an initial public offering (IPO) candidate for next year.
Citing people familiar with the matter, The Information reports that Kraken is eyeing to raise $500 million at a $15 billion valuation.
The price tag represents a significant increase from when the 14-year-old Coinbase challenger was valued at just $11 billion in 2022.
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The report says the valuation may impact the company’s plans to go public.
“What it doesn’t really have is the kind of roster of institutional investors it would likely need to pull off a public listing. This latest round could help, if it can get investors comfortable with that valuation.”
In March, Bloomberg reported that Kraken is planning a public debut in the
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