Kraken confidentially files for US IPO after new $20 billion valuation
The Block
Crypto exchange Kraken has confidentially submitted its draft S-1 registration statement to the SEC for a US IPO.Summary
Crypto exchange Kraken has taken a significant step toward going public by confidentially submitting a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC). This move follows the company achieving a new $20 billion valuation after raising $800 million across two tranches. Founded in 2011, Kraken is one of the oldest operating crypto trading venues, offering a wide range of assets and institutional services. The filing does not yet detail the IPO's timing, share count, or pricing, which will be determined by the SEC review and market conditions. This development occurs amid a resurgence of crypto IPO activity, exemplified by recent public listings of firms like Circle and Gemini.
(Source：The Block)