Crypto exchange Kraken confirms it has confidentially filed for an IPO
Kraken is one of the largest crypto exchanges in the world.
Tiffany Hagler-Geard | Bloomberg via Getty Images
Kraken co-CEO Arjun Sethi reiterated on Tuesday that the crypto exchange has confidentially filed for an initial public offering in the US.
In November 2025, CNBC reported that Kraken was planning its debut. Separately, Kraken said It said in a blog post at the time that it had filed a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission but did not yet know when the offering would occur.
Sethi’s comments were made at the Semaphore World Economy conference in Washington, DC, the website reported. Kraken is trying to make advanced trading strategies generally reserved for professional investors available to individual investors, the executive said. According to Semaphore.
The crypto exchange has reportedly lost more than $6 billion in valuation. Bloomberg early Tuesday reported Deutsche Börse Group has committed to invest $200 million in Kraken in exchange for a fully diluted ownership stake of 1.5%, implying a valuation of $13.3 billion. In November, Kraken announced an $800 million raise at a $20 billion valuation.
Less than a month ago Kraken Reportedly frozen IPO plans It is in the midst of a crypto winter that has pushed the Bitcoin price 40% below its October record. The flagship cryptocurrency has been moving higher in recent weeks. It rose as high as $76,000 on Tuesday, a level not seen since February, and is now up 9% for April.
Rival crypto exchange Gemini Space Station It saw its shares fall almost 49%, but its shares are up 15% year to date.
—CNBC’s Liz Napolitano contributed reporting.
