Kraken to Raise $100M Before IPO

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According to sources familiar with the matter, Kraken is considering raising additional funds and potentially going public next year.

Bloomberg reported on Thursday that the cryptocurrency exchange could raise over $100 million in a pre-IPO round, as the market for virtual currencies continues to see a surge in prices.

A source familiar with the matter stated that if Kraken decides to pursue this option, the funding round could conclude before the end of 2021.

In a statement, Kraken stated its continued focus on advancing the adoption of cryptocurrencies globally and mentioned that they are constantly exploring different strategic solutions to achieve this goal.

Sources told Bloomberg that Kraken aims to launch its initial public offering as early as next year, and in order to do so, the exchange is seeking to add a major company to its board.