Bloomberg cited sources familiar with the matter as reporting that, as investors shift towards the cryptocurrency market amid rising token prices, Kraken may raise over $100 million in funding in a Pre IPO financing round. It is said that if Kraken ultimately chooses to raise more funds, the financing round could be completed before the end of this year.
Kraken stated in a statement on Thursday:
“We have been exploring strategic paths to achieve Kraken’s mission: to accelerate global adoption of cryptocurrencies. We remain fully focused on achieving this goal.”
Furthermore, sources also told Bloomberg that Kraken is planning to launch an IPO as soon as next year. It is reported that in order to achieve these plans, the exchange hopes to bring a “big name” institution onto its board of directors.