Rumors suggest Kraken intends to secure $1 billion via borrowed capital, hinting at a possible initial public offering soon!
Bloomberg reports that the prominent digital currency marketplace is not only pursuing borrowed capital but also weighing equity financing. Speculation abounds that Kraken could become a publicly traded entity as soon as next March.
Kraken originally intended to become a publicly traded entity in 2022 utilizing a special purpose acquisition company merger. To demonstrate its commitment to an initial public offering, the marketplace recruited Carrie Dolan, a skilled monetary services authority, to serve as chief financial officer. Dolan formerly oversaw LendingClub Corporation’s initial public offering in 2015, among the biggest internet initial public offerings in the United States at that time.
Nevertheless, on account of governing elements, the initial public offering was postponed, but presently it gives the impression of being back in consideration.
Coinbase, a significant United States marketplace, became a publicly traded entity in April 2021, creating considerable excitement.
Separately, the Securities and Exchange Commission recently dismissed its legal action against Kraken as part of a wider effort to lessen enforcement.
Earlier in the month, Kraken also consented to procure futures broker NinjaTrader for $1.5 billion, intending to broaden its scope in conventional finance. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
This considerable borrowed capital is anticipated to occur before Kraken’s rumored initial public offering.
