Reports suggest that Kraken, the second-largest US-based cryptocurrency exchange by trading volume, is preparing for a public launch.
Bloomberg has revealed that Kraken, also known as Payward Inc., is looking to conduct an initial public offering (IPO) in the first quarter of 2026.
While Bloomberg’s sources remain anonymous, Kraken stated, “We recently disclosed 2024 financial highlights to be more transparent about our business… We’ll pursue public markets as it makes sense for our clients, our partners, and shareholders.”
Other crypto companies, including Circle, BitGo, Gemini, and Bullish, are also considering going public, following a perceived pro-crypto stance by the Trump administration compared to the previous Biden administration.
Notably, the US Securities and Exchange Commission (SEC) has reportedly agreed to dismiss its lawsuit against Kraken, with the exchange claiming the investigation was politically motivated and baseless.
In 2024, Kraken’s revenue doubled to $1.5 billion, while Coinbase, another major US exchange, reported around $6.6 billion in revenue.
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