Insiders: Kraken plans to raise over $100 million before IPO

ChainCatcher news, citing sources familiar with the matter, reports that cryptocurrency exchange platform Kraken is in negotiations for pre-IPO funding. Kraken is seeking to raise over $100 million, with expectations to complete this by the end of the year. Rumors about Kraken going public have circulated for the past few years. The company has been busy addressing allegations brought by the U.S. Securities and Exchange Commission (SEC) last year, accusing it of operating an unregistered platform and improperly mixing customer funds.

A spokesperson declined to comment on the funding but stated, "We have been exploring strategic paths to achieve Kraken's mission: to accelerate the global adoption of cryptocurrency. We will continue to focus our efforts on investing in this goal."