Arjun Sethi, co-CEO of Kraken, reaffirmed on Tuesday that the cryptocurrency exchange had confidentially filed for an initial public offering (IPO) in the United States.
According to Zhitong Finance, Arjun Sethi, co-CEO of Kraken, reaffirmed on Tuesday that the cryptocurrency exchange had confidentially filed for an initial public offering (IPO) in the United States.
In November 2025, media reports indicated that Kraken was planning to go public. At the time, Kraken independently stated in a blog post that it had submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), although the exact timing of the offering remained unclear.
According to a report by Semafor, Sethi made the remarks at the Semafor World Economy Conference held in Washington, D.C. The executive stated that Kraken is committed to providing retail investors with access to advanced trading strategies typically reserved for professional investors.
It was reported that the valuation of the cryptocurrency exchange had dropped by more than $6 billion. Earlier on Tuesday, Deutsche Börse Group pledged to invest $200 million in Kraken in exchange for 1.5% of its fully diluted ownership stake, valuing the company at $13.3 billion. In contrast, in November last year, Kraken announced a fundraising round at a valuation of $20 billion, securing $800 million.
Less than a month ago, due to the ‘crypto winter’ causing Bitcoin’s price to fall by 40% from its all-time high in October, Kraken temporarily froze its IPO plans. However, this flagship cryptocurrency has been steadily climbing in recent weeks. On Tuesday, the price of Bitcoin briefly touched $76,000, a level not seen since February, with a rise of 9% so far in April.
Despite a nearly 49% decline in the stock price of its rival crypto exchange, Gemini Space Station, its shares have risen 15% month-to-date.
Editor/Vincent