According to Recent Reports With Fortune, cryptocurrency exchange Kraken has closed its massive $500 million funding at an astounding $15 billion valuation.
To put this massive salary increase in sight, it is worth noting that the exchange raised only $27 million in venture capital funding in the first decade.
IPO plan
Kraken is considering making it public for about five years. Jesse Powell then first revealed the company's IPO plans during a major bull run in 2021.
However, Kraken's plans to be published may have probably been postponed due to the cryptocurrency winter that occurred in 2022.
In March, Bloomberg reported that Kraken was due to be released in 2026. This was followed by the acquisition of its futures trading platform Ninjatrader.
As reported by U.Today, the cryptocurrency industry is currently experiencing an IPO boom where major names such as Circle and Gemini are all publicly available.
Kraken is risking a major hit if it has a cryptocurrency price tank in 2026, so pressure is growing to release it in the near future. However, it is worth noting that the company still has a rather strong base.
Unconventional CEO
CO-CEO Arjun Sethi is currently at the forefront of the exchange in a somewhat unorthodox way.
Seti runs one of the world's biggest interactions from her home in Menlo Park, combining business with personal life.
He is primarily focused on integrating crypto with traditional funds, and Kraken's recent tokenization efforts are part of this push.
Using Xstocks, a tokenized version of US stocks, Kraken aims to enhance its appeal to retailers.
