Top crypto exchange Kraken is in discussions for a final funding round before going public. Kraken is looking to raise around $100 million ahead of launching an initial public offering (IPO), potentially concluding by year-end.
Despite its long history of advancing the crypto industry, Kraken faces unresolved legal issues with the U.S. Securities and Exchange Commission (SEC). The SEC sued Kraken last year for allegedly commingling client assets with corporate funds and operating an unregistered securities exchange. Kraken denied the allegations and is currently fighting the SEC.
Several American-based crypto companies are planning IPOs as regulatory conditions shift in the U.S. For example, Circle filed its IPO in January, and Telegram is also working on its IPO due to its blockchain affiliations.
Raising funds and going public could significantly enhance Kraken’s valuation and market position. This strategic step underscores the growing importance of regulatory clarity and market expansion for crypto companies.
