Bitcoin Magazine Kraken Files for IPO After $800 Million Fundraising at $20 Billion Valuation

Kraken, one of the longest-running crypto exchanges, has taken a major step toward going public, filing for a U.S. initial public offering (IPO) through its parent company, Payward, Inc.

The draft S-1 registration statement was submitted to the Securities and Exchange Commission (SEC), formally placing Kraken in the IPO pipeline.

The confidential filing follows an $800 million fundraising round completed on Tuesday, which valued Kraken at $20 billion. The round, raised over two months in two tranches, was led by major traditional finance investors, including Citadel, the hedge fund founded by Ken Griffin.

Kraken had initially planned a $500 million IPO at a $15 billion valuation in July, which

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