logo
Plus   Neg
Share
Email

Bitcoin Exchange Kraken Plans To Go Public In 2022: Reports

California-based bitcoin exchange Kraken Exchange is considering going public in 2022, reported CNBC on Thursday.

Established in 2011, Kraken enjoyed a substantial first quarter in 2022, with a total subscriber base breaching 6 million. It is the fourth-largest crypto exchange by trading volume, according to CoinMarketCap data. The exchange benefited significantly from a recent surge in bitcoin price, which touched $60 thousand in March 2021.

The company is also lined up for another round of funding to raise its value to $20 billion. It is understood that the growth of Ether, a blockchain currency of Ethereum, the demand of NFT, and the engagement of institutional investors have concocted the rise of cryptocurrencies beyond $2 trillion for the first time.

In an interview conducted by CNBC, Jesse Powell, founder and CEO, said, "The first quarter just completely blew away the entirety of last year. We beat last year's numbers by the end of February. The whole market has really just exploded."

"We're looking at being able to go public sometime next year. It would probably be a direct listing, similar to Coinbase" added Powell.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT