Kraken Considers Raising Over $100 Million In Pre-IPO Round

The anticipation surrounding a potential Kraken IPO has intensified after Bloomberg reported that the exchange is seeking to raise north of $100 million in a pre-IPO round by the end of 2024.

If Kraken, the second-largest crypto exchange in the US, proceeds with the plan, the company could finally go public in 2025.

Bloomberg highlighted that Kraken is considering this “final” funding round after receiving significant interest from potential investors.

The funding round would also allow Kraken to boost its board with “marquee” players to help ensure a smooth and successful public offering.

New Developments Signal Progress

Kraken’s ambitions to go public date back to 2021, when the company first publicly discussed an IPO. But those plans were quickly put on pause after the collapse of FTX and the bear market that followed suit.

Fast forward to today, over three years later, the odds of Kraken going public soon are back in their favor buoyed by rising prices nearing all-time highs and a shifting political landscape.

To add, as we’ve previously covered on CoinSnacks, the exchange has been quietly ramping up its offerings and strategic initiatives since the last cycle. This includes the acquisition of Tradestation’s crypto arm, expansions into the European market, and the debut of its institutional platform and mobile wallet.

Keeping Track

Kraken remains at the top of our long list of crypto companies hoping to go public in the US soon, with Circle being the other big candidate.

Here at CoinSnacks, you can keep track of the progress of each potential public offering in crypto on our continuously-running IPO Tracker.

With regulation loosening and crypto prices rising, the window for crypto companies to go public is beginning to open. As soon as next year, it’s possible that we could see a rush of new crypto listings hitting the public markets.