Crypto exchange Kraken exploring $1B raise ahead of IPO: Report

The exchange reported $1.5 billion in revenue in 2024 and cumulative trading volumes of $665 billion.

Cryptocurrency exchange Kraken is considering a major capital raise ahead of a potential initial public offering (IPO) early next year, Bloomberg reported on March 24. 

Citing anonymous sources, Bloomberg said Kraken is exploring a debt package worth anywhere between $200 million and $1 billion. The exchange is reportedly in preliminary talks with Goldman Sachs and JPMorgan Chase about facilitating the transaction.

The funds would be used to support Kraken’s growth and not for operational expenses, Bloomberg cited the source as saying. 

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