Kraken Seeks Over $100M in Pre-IPO Funding

Kraken is aiming to raise more than $100 million in pre-IPO funding, expected to conclude by the end of the year.
Kraken Seeks Over $100M in Pre-IPO Funding

Key Takeaways

  • Kraken has plans to raise over $100 million in pre-IPO funding.
  • Kraken has faced SEC accusations of operating an unregistered platform.
  • The funding round is anticipated to be completed by the end of this year.

Kraken, the prominent cryptocurrency exchange, is reportedly in discussions to secure over $100 million in pre-IPO funding. According to Bloomberg, the funding round is expected to be completed by the end of this year.

Thomas Perfumo, Kraken’s head of strategy, acknowledged the challenging economic environment, stating:

We’re not insulated from the broader macro and economic environment.

There have been ongoing speculations about Kraken’s plans to go public for several years. However, the firm has faced regulatory challenges, including accusations from the U.S. Securities and Exchange Commission (SEC) last year for operating an unregistered platform and mismanaging customer funds.

While Kraken declined to comment directly on the current funding round, a spokesperson mentioned:

We are always exploring strategic paths towards Kraken’s Mission: accelerating the global adoption of crypto. We remain fully focused on investing in this goal.

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