Kraken Eyes $100 Million Pre-IPO Funding Round

Kraken, a leading cryptocurrency exchange, is in the final stages of securing a $100 million funding round before its anticipated initial public offering (IPO), as reported by Bloomberg. Sources familiar with the negotiations suggest that Kraken aims to finalize this funding by year-end.

When approached by crypto.news, a Kraken spokesperson declined to comment on the ongoing discussions.

Kraken, a pioneer in the cryptocurrency industry, continues to advance despite facing significant legal challenges. The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Kraken last year, alleging the commingling of client assets with corporate funds and operating an unregistered securities exchange. Kraken has denied these allegations and is currently engaged in a legal battle with the SEC, alongside other industry giants like Coinbase, which faces similar accusations.

Amid shifting regulatory environments in the U.S., several American crypto companies are preparing for IPOs as the winter presidential elections approach. In January, stablecoin issuer Circle announced its IPO plans following a previous unsuccessful attempt via a special purpose acquisition company (SPAC) agreement. Additionally, Telegram, a social networking platform with blockchain ambitions linked to The Open Network (TON), is also planning an IPO.

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