As an experienced financial analyst, I’ve followed Kraken’s progress with great interest. The latest news about their potential pre-IPO funding comes as no surprise to me, considering the company’s ambitious plans and its significant role in the cryptocurrency market.
According to reports from Bloomberg, based on information from sources privy to Kraken’s confidants, the cryptocurrency exchange is allegedly holding discussions regarding pre-Initial Public Offering (IPO) financing.
According to Bloomberg, Kraken aims to secure over $100 million in funding, potentially wrapping up the process by the end of this year.
For several years, Kraken has faced speculation about its plans to become a public company. Recently, the company has been preoccupied with responding to allegations from the U.S. Securities and Exchange Commission (SEC) made last year. These accusations claimed that Kraken was operating an unregistered trading platform and mishandled customer funds inappropriately.
A representative for Kraken refused to discuss the matter of raises but stated, “Kraken continues to investigate ways to further our objective: rapidly expanding crypto usage worldwide. Our efforts are solely directed towards this objective through significant investments.”
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2024-06-06 20:56