Kraken is making a bold move to accelerate its growth, reportedly seeking to raise $1 billion in debt as it prepares for a potential public listing.
According to Bloomberg, the cryptocurrency exchange is working with financial powerhouses JPMorgan and Goldman Sachs to secure funding, while also considering an equity raise to further strengthen its financial position.
The idea of Kraken going public has been circulating for years. Initially, the exchange planned to enter the public markets in 2022 through a SPAC merger, but those plans were postponed. Now, with a seemingly more favorable regulatory landscape, Kraken may be ready to take the next step.
The appointment of Carrie Dolan as CFO in 2022 was a strong indication of its IPO ambitions, given her track record of managing LendingClub’s 2015 public debut, which was one of the largest internet IPOs in U.S. history.
Beyond its IPO ambitions, Kraken has been actively expanding its presence in the broader financial sector. Earlier this month, the company made a major move by acquiring futures broker NinjaTrader in a $1.5 billion deal, signaling its push into traditional finance.
With Coinbase setting a precedent by going public in 2021, Kraken appears to be positioning itself as the next major crypto exchange to take the leap into the stock market.
Rumors are heating up around Solana-based memecoin platform Pump.fun, which is said to be prepping a $1 billion token sale at a $4 billion valuation—though the team has yet to confirm any details publicly.
Brad Garlinghouse has flatly denied that Ripple ever attempted to acquire Circle, the company behind the USDC stablecoin, shutting down weeks of speculation about a potential $5 billion deal.
A sharp rally could be brewing for the S&P 500, with analysts suggesting the index may push toward 7,400 in the coming months—a move that would mark a significant leap from its current level near 5,950.
Tokenized short-term funds are quietly reshaping how institutions manage liquidity, offering a digital alternative to traditional money market products.