Kraken Confirms Confidential IPO Filing Despite Valuation Drop

Kraken co-CEO Arjun Sethi confirmed that the cryptocurrency exchange has confidentially filed for an initial public offering (IPO) with the SEC. The filing was initially submitted around November 2025, shortly after Kraken raised $800 million at a $20 billion valuation. However, an April 2026 investment round valued the company at $13.3 billion, a 33% drop from its peak. This round included a $200 million secondary share purchase by Deutsche Börse Group, which will result in a roughly 1.5% stake. Kraken had previously paused its IPO plans in March 2026 due to market conditions, but Sethi's comments indicate the confidential filing remains active. Sethi also highlighted Kraken's mission to provide institutional-grade trading tools to everyday traders, citing acquisitions like NinjaTrader and securing direct Federal Reserve master account access as steps towards this goal.

(Source：BeInCrypto)