Kraken Plans to Raise $100 Million, Potentially Considers IPO
Kraken, a cryptocurrency exchange based in the United States, is reportedly planning this. Raising more than $100 million to prepare for a potential initial public offering (IPO). According to a June 6 Bloomberg report citing anonymous sources.
The target dates for this funding round are expected to be as follows: 2025.
Although Kraken has expressed interest in exploring strategic options to drive global cryptocurrency adoption, No specific details were provided about the potential IPO.
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Kraken’s plans emerged amid legal challenges: Civil lawsuit filed by the U.S. Securities and Exchange Commission (SEC) The SEC accused Kraken of operating without proper registration and violating U.S. securities laws.
A Kraken spokesperson refuted these claims, saying:
We disagree with the SEC’s complaints about Kraken, remain firm in our view that the securities will not be listed, and plan to vigorously defend our position.
In February of this year Kraken attempted to dismiss the lawsuit, but They argued that the SEC was overexerting its regulatory powers.
Despite these regulatory concerns, Kraken’s potential IPO and fundraising efforts demonstrate the cryptocurrency exchange’s willingness to expand its presence in the cryptocurrency market.
Circle Internet Financial, the issuer of USD Coin (USDC), is planning to move its legal headquarters from Ireland to the United States, which can be interpreted as a potential strategy to prepare for an IPO.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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