Story Highlights
- Kraken plans to go public by early 2026, says Bloomberg.
- Regulatory shifts under Trump help Kraken restart IPO efforts.
- Kraken IPO could set a trend for other crypto firms.
Ah, the grand tale of Kraken, the cryptocurrency exchange that dreams of dancing on the public stage by the dawn of 2026! According to the ever-watchful Bloomberg, this ambitious venture is not just a pipe dream but a plan in the making. 🧐
Once upon a time, in the land of crypto, Kraken found itself in a bit of a pickle, facing the stern gaze of the U.S. Securities and Exchange Commission during the Biden era. But lo and behold! A regulatory twist, courtesy of President Trump, allowed the SEC to drop its litigation like a hot potato. And just like that, Kraken dusted off its IPO plans and got back in the game! 🎉
Founded in the year of our Lord 2011, Kraken has managed to rake in a modest $27 million through primary capital funding. Its dreams of going public in 2022 were dashed by the stormy seas of regulatory uncertainty. But fear not! With the winds of market conditions shifting in their favor, Kraken is back on the IPO hunt, promising to consider the needs of its clients, partners, and shareholders. Because who doesn’t love a good corporate love story? 💖
Kraken earns 1.5 billion in 2024 boosting IPO hopes
Now, let’s talk numbers! Kraken’s financial reports are singing a sweet melody, showing a whopping $1.5 billion in revenue for 2024—a dazzling 128% increase! With an adjusted EBITDA of $380 million and total assets under management soaring to $42.8 billion, Kraken is strutting its stuff with 2.5 million funded accounts by year’s end. Talk about a glow-up! 💪
If Kraken takes the plunge into public waters, it could send ripples through the cryptocurrency world, inspiring other firms to follow suit. With market conditions looking up, Kraken might just become the belle of the crypto ball, trading publicly and making waves across the globe. 🌍
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2025-03-08 18:32