Crypto exchange Kraken freezes multibillion-dollar IPO plan due to difficult market conditions
CoinDesk
Kraken's parent company, Payward, has paused its planned multibillion-dollar IPO due to challenging cryptocurrency market conditions.Summary
Kraken's parent company, Payward, has put its planned initial public offering (IPO) on hold, citing difficult market conditions that have followed the crypto market downturn since Bitcoin's record high in October. Payward had confidentially filed a draft S-1 registration statement with the SEC in November, shortly after raising $800 million at a $20 billion valuation. While the company still considers going public, it is likely waiting for market conditions to improve. This contrasts with 2025, which saw several crypto-related companies successfully list, and highlights the current caution in the sector, evidenced by crypto custodian BitGo's stock slump post-IPO.
(Source：CoinDesk)