Key Notes

Kraken has confidentially submitted a draft registration statement (Form S-1) to the SEC.

The firm recently secured $800 million in fundraising, including a $200 million strategic investment from Citadel Securities that valued the company at $20 billion.

Kraken reported record Q3 2025 revenue of $648 million and plans to use the new capital to scale global operations and expand into new markets. .

US-based cryptocurrency and digital assets exchange Kraken has confidentially submitted a draft registration statement on Form S-1 with the US Securities and Exchange Commission (SEC), marking an official request to offer common stock in an initial public offering.

The number of shares on offer and the price of the initial stock offering has yet to be determined. According to a

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