Kraken Plans to Raise Over $100 million Ahead of IPO
2024-06-06 19:11:10
Cryptocurrency exchange Kraken is in talks for a pre-IPO funding round, according to Bloomberg, citing people familiar with the company's plans. Kraken is seeking to raise more than $100 million in funding, which is expected to be completed by the end of the year. Rumors of Kraken going public have swirled over the past few years. The company has been grappling with allegations filed last year by the Securities Exchange Commission (SEC) that it operated an unregistered platform and improperly mixed client funds. A spokesperson declined to comment on the funding round, but said: "We have been exploring a strategic path to achieve Kraken's mission: to accelerate the global adoption of cryptocurrencies. We remain fully focused on investing in that goal."
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