BusinessIPOKraken

Kraken Will Likely Go Public With IPO Next Year

Crypto exchange Kraken may sell shares on the public stock market, according to reports from mainstream news sources.
Kraken Could Run SPAC or IPO
Charles Gasparino of Fox Business reports that, according to Kraken executives, the firm is planning to sell corporate shares.
He says that executives are “eying going public, possibly through a SPAC or IPO.” In a Special Purpose Acquisition Company (SPAC), Kraken would create a company without commercial operations specifically to raise capital through an IPO. In an initial public offering (IPO), Kraken would sell shares of its company.
Gasparino added that Kraken’s IPO could take place “sometime next year” and noted that various members of the crypto industry “expect a raft of crypto SPACs this summer.”
He concluded that the industry also expects more regulatory scrutiny, likely referring to various actions by the U.S. Securities and Exchange Commission over the past several years.
Kraken Could Be Second Exchange IPO
Coinbase and eToro have both recently announced their own plans to go public. That means Kraken would be the second or third major crypto trading company listed on the stock market.
Kraken itself has not confirmed an IPO. However, CEO Jesse Powell discussed the possibility on Bloomberg TV on Mar. 4. He stated the firm was “certainly on track to go public” but not prepared to do so at its current valuation. He implied that an IPO could take place in 2022 but said that there are “no guarantees.”
Today’s news implies that there are more …
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