Bloomberg: Kraken to raise $1 billion before IPO

The exchange is tentatively scheduled to go public in early 2026

25.03.2025 - 16:15

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What’s new? Leading US crypto exchange Kraken is exploring the possibility of raising up to $1 billion in debt ahead of potentially going public through an initial public offering (IPO), Bloomberg reports, citing sources.

Material by Bloomberg

What else is known? Kraken is partnering with Goldman Sachs and JPMorgan, and both have begun talks with other financial institutions and direct lenders to help the exchange raise funds.

Earlier this month, Kraken said it was considering an IPO in Q1 2026, but its plans could still change.

For instance, Kraken was considering such a scenario back in 2021. It was also exploring raising more than $100 million in an IPO funding round in mid-2024, and it recorded more than $1,5 billion in revenue that year.

Its main competitor in the US market, Coinbase, went public on the Nasdaq stock exchange under the ticker COIN back in April 2021.

Tether has launched its omnichain-stablecoin USDT0 on the Kraken exchange’s Ink network

The asset will allow USDT to move seamlessly between different blockchains

Kraken’s new plans to go public followed the termination of its proceedings with the Securities and Exchange Commission (SEC).

The regulator had accused Kraken of violating securities laws, but with the new administration and change in leadership, it has changed its approach to the crypto industry and withdrawn a slew of lawsuits against industry companies.

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