Kraken Exchange Considers Listing Next Year! -

Summary: According to Fox Business reporter Charles Gasparino, cryptocurrency exchange Kraken is considering an initial public offering (IPO) in 2022, and executives are considering working through a special purpose acquisition company (SPAC) or a more traditional IPO.

Cryptocurrency exchange Kraken is considering an initial public offering (IPO) in 2022, and executives are considering either working through a special purpose acquisition company (SPAC) or going with a more traditional IPO, according to Fox Business reporter Charles Gasparino.

So far, no major cryptocurrency exchange has gone public in the U.S., but that should change soon as Coinbase prepares for a direct listing and trading platform eToro announced on Tuesday that it will go public through a SPAC merger.

According to BitPush, Kraken CEO Jesse Powell has hinted that he is interested in going public in 2022, but only if the valuation is reasonable. He believes that $10 billion is too low for Kraken. In comparison, Coinbase is valued at about $100 billion and eToro is valued at $9.6 billion.

The multi-pronged crypto brokerage also holds a national banking license and is one of the largest unicorns in the crypto space.

In addition, Kraken stated in a public statement today that due to users' support for the Ethereum community, the amount of Ethereum pledged by its platform's ETH2.0 staking service has exceeded 500,000.

Kraken was one of the first cryptocurrency exchanges to offer secure on-chain ETH2.0 staking services in December last year. Kraken’s staking is more user-friendly and requires less capital, the platform said in a statement: “Users can invest on the Kraken platform in just three clicks and it is open to anyone. The minimum staking amount is as low as 0.00001 ETH (currently worth less than 2 cents)”.

Gasparino said Kraken’s IPO could take place “sometime next year,” noting that the crypto industry is “anticipating a slew of crypto SPACs this summer.”

He concluded that the industry also expects more regulatory scrutiny, likely referring to various actions taken by the U.S. Securities and Exchange Commission (SEC) over the past few years.

Image source: Twitter; Kraken

byAmy Liu

This article comes from Bitpush.News. Reprinting must indicate the source.