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Kraken raised $ 500M to $ 15B appreciation in the midst of IPO Buzz’s increase: Report

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Kraken has been reported to have raised $ 500 million to a $ 15 billion appreciation, which strengthened its financial position amid a growing speculation that the cryptocurrency exchange prepares for an initial public (IPO) offer.

Fund is first reported By Fortune, citing a resource close to negotiations with a profile in Co-Co Arjun Sethi. The resource announced that Kraken closed the twist earlier this month.

When contacted by cointelegraph for confirmation, a Kraken representative refused to comment.

Increase and appreciation are widely consistent with Cointelegraph’s reporting in Julyrevealed that Kraken is looking for $ 500 million in a $ 15 billion appreciation – a move that is widely interpreted as a step toward IPO’s readiness.

While Kraken has not filed any regulatory paperwork for a public list, some of its actions appear to be consistent with the IPO preparation, including enhancement of financial disclosures. However, the company has yet to submit a S-1 registration statement to the US Securities and Exchange Commission (SEC), a necessary step for any US public offering.

Established in 2011 and launched in 2013, Kraken is one of the oldest operating exchanges of the industry. It processes nearly $ 1.9 billion in trading volume in the past 24 hours, ranking the top 15 global crypto exchanges, according to CoinMarketCap.

Crypto Ipo Mania grows

Kraken’s reported interest in a public offer came in the middle of a wave of crypto companies heading to public markets with amazing -wonderful success.

Gemini, the exchange established by Cameron and Tyler Winklevoss, has been more than 20 times -oversubscribe to the NASDAQ debut, raising $ 425 million. Due to going public earlier this month, its market capitalization has grown over $ 2.8 billion.

Circle, gives USDC (USDC), completed a billion dollars IPO in June, along with Share 167% on the day of the opening. The company now regulates an appreciation of approximately $ 31.4 billion.

Figure’s technology solutionsA blockchain -based lender, also presented a blockbuster debut. Its shares jumped more than 20% when trade began in September, raising its market cap above $ 8.4 billion.

Meanwhile, BitGo, a leading crypto career with over $ 90 billion in possessions, has Filed S-1 registration documents with the SEC while aiming to list Class A Common Stock at the New York Stock Exchange.

The IPO Rush came in the middle of a rear of favorable regulations in the United States, including the passage of the Stablecoin Bill’s genius and market structure and anti-CBDC law, which together provided more clarity for the digital asset industry.

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