Kraken, one of the world’s largest cryptocurrency exchanges, is reportedly seeking to raise $500 million in a funding round at a $15 billion valuation, as it prepares for a potential initial public offering (IPO) in early 2026. This fundraising initiative is occurring amid a wave of IPOs in the crypto sector, catalyzed by a more favorable regulatory environment in the U.S. The U.S. Securities and Exchange Commission recently dropped its lawsuit against Kraken concerning its crypto staking service, which had been deemed an illegal sale of securities. Founded in 2011, Kraken boasts a daily trading volume of $1.25 billion. Other cryptocurrency firms, such as Circle Internet Financial and eToro, have successfully gone public recently, with several others filing for IPOs as well. The current landscape suggests that established companies, funded between 2016 and 2018, are now looking to public listings for growth and investor exits, following previous regulatory challenges during the tenure of former SEC Chair Gary Gensler.

Source 🔗