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Kraken Reportedly Considers $100 Million Funding Round

The media reports that the Kraken cryptocurrency exchange is currently considering the possibility of conducting a final round of financing before a possible initial public offering (IPO).

Kraken Reportedly Considers $100 Million Funding Round

As part of the mentioned procedure, the company plans to raise investments worth more than $100 million. The cryptocurrency exchange has received inquiries from potential investors amid the current rally in the digital asset market. The relevant information was published by the media with reference to anonymous insiders.

Kraken did not provide any specific comments on the potential funding round. Representatives of the cryptocurrency exchange, in response to a request from the media, reported that the company is constantly exploring strategic ways to achieve its mission, which is to accelerate the implementation of the process of global adoption of digital money. Kraken remains fully focused on investing to reach the mentioned goal.

Anonymous insiders told reporters that the pre-IPO funding round could be completed by the end of the current year. Also, according to them, the listing can be launched as early as 2025.

It is expected that in the current year, the revenue of the cryptocurrency exchange will range from $1 billion to $2 billion. In part, this result will be facilitated by the rally in the digital currency market. Kraken has been expanding its offerings in recent months.

In April, the crypto exchange acquired TradeStation Crypto, the digital assets unit of the TradeStation Group. At that time, Kraken announced the intention to expand its regulatory licensing in the United States.

As we have reported earlier, TymeBank Aims to Raise $100 Million.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.