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Cryptocurrency Exchange Kraken Plans to Go Public

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Tue, 03/16/2021 - 17:21
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Alex Dovbnya
Kraken could go public through a SPAC merger or an IPO next year
Cryptocurrency Exchange Kraken Plans to Go Public
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According to Charles Gasparino of Fox Business, cryptocurrency exchange Kraken has plans to go public in 2022 via a merger with a special purpose acquisition company (SPAC) or a traditional IPO.  

Last month, Bloomberg reported that Kraken was seeking to raise additional funds that would increase its valuation to $10 billion.

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The shares Coinbase, the largest U.S. cryptocurrency exchange with a roughly $100 billion valuation, are expected to start trading on the Nasdaq exchange later this year, which will mark a watershed moment for the industry.   

In January, Bloomberg also revealed that Gemini, another major crypto exchange, was eyeing a public offering.           

Earlier today, Israeli trading platform eToro confirmed it's going public via a merger with a SPAC backed by Betsy Cohen.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.