Kraken works with Goldman Sachs and JPMorgan Chase to raise up to one billion dollars before a public list planned in early 2026, according to Bloomberg.
The talks are still early, but the banks are already talking to other financial institutions and direct lenders to raise funds. One of the persons concerned It is said He said that the amount may end up to $ 200 million, depending on how to run lending discussions.
Increase debt is not for daily operations. Money aims to finance Kraken’s expansion, not to connect any holes. Bloomberg said that the company is also considering increasing fairness alongside debt, but this is still not specified, and all terms, including the structure and the final amount, may change, before completing anything.
San Francisco, which is based in San Francisco, was established in 2011, called Payward Inc. It is run by Arjun Sethi and David Ripley, CO-CEOS. Kraken wants to publicize in the first quarter of 2026. This timeline follows a more open position on encryption during the era of President Donald Trump, which led to the enforcement of American organizers, spoiling the way for encryption companies such as Kraken to explore the list options.
Kraken is preparing for public subscriptions with high revenues and revenue
Kraken has just bought Ninjatrader, a trading ahead platform that focuses on retail, for $ 1.5 billion last week. The company was already talking about the pre -subscription financing collection before the acquisition. In January 2025, Kraken unveiled $ 1.5 billion in revenue for 2024, an increase of 128 % over the previous year. The Stock Exchange also reached $ 380 million of profits before benefits, taxes, depreciation and modified consumption, and it can work in more than 190 countries, and it has more than 10 million users, and more than $ 207 billion in trading volume in the quarter, based on the numbers published on its website.
Kraken issued a statement saying: “We are always exploring strategic paths towards Kraken’s mission: accelerating global encryption. We are still focusing completely on investing in this goal.” The company did not respond directly to questions about debt or public subscription plans.
Kraken is also trying to bring a well -known company on board to help pay the public subscription. This process is still in the discussion stage. To date, there are no signed agreements or official documents. The talks have not only involved verbal exchanges on terms and evaluation, according to the report.
Kraken has talked about its launch for the public for years, but previous plans were delayed due to the collapse of the Crypto market and the legal battles with the US Securities and Stock Exchange Committee (SEC). In 2023, Kraken settled one case with SEC, although a lawsuit was filed again last year, but this time he is accused of managing the unregistered securities broker, a clearing agency, and exchange. These were the same accusations that SEC filed against Coinbase, the largest American encryption exchange, and the Kraken killer against the lawsuit. The case was rejected on March 3, as Kirfubolitan I mentionedWhich was just another procedure that the Supreme Council for the New Education is not the Supreme Council for ancient Education.
SEC returns to encryption lawsuits after Trump’s victory
The Supreme Council for General Education started by getting rid of at least eight cases to enforce different encryption. The change came quickly after Gary Ginsler stepped as SEC president in late January. He is expected to be replaced by former Commissioner Paul Atkins, where Mark Oida keeps the job until the confirmation passes on March 27. Trump’s promise during his campaign to shoot Jinsler on the first day. This promise has been well received by the encryption industry, which was clashed with the Jinsler enforcement approach.
After Trump’s victory, Bitcoin reached a record, although it later declined by 25 % after the new tariff ads that struck global markets. But Trump’s victory indicated that the CEO of encryption was hoping for it.
“It is a multi -faceted demolition for the most successful SEC enforcement program in history,” said John Reed Stark, who is used to leading the SEC application and now works as a consultant. Stark added: “We will scream every aspect of the SEC enforcement program in a way that was not only unprecedented and unusual, as it goes beyond imagination.”
During the era of former President Joe Biden, many were seen in this industry as a lost cause. Main companies such as Coinbase and Ripple have transformed employment abroad. But things swing. In January, Ripple recorded 75 % of its functions in the United States
The new SEC driving prepares a Crypto workplace
Since January 21, SEC has fixed its inner structure on encryption. The old coding department has been replaced by the Internet and Emerg Technology Unit, as well as the encryption workplace that will work with people in the industry to help write new rules. The results of the agency’s work squad have already formed. SEC cited her work when she asked to stop the Binance case last month.
The battle is about whether the encryption symbols are securities or that goods may calm. SEC does not pay this issue with the same solid anymore. After the elections, Robinhood reinstated the Solana and Cardano trading in the United States, and these icons that were dropped in 2023 were after the lawsuits suggested that they may be unregistered securities.
Just three weeks ago, SEC explained that Meme currencies are not considered securities. These are the joke metal currencies that become an online virus without real benefit. Donald Trump launched himself in January, and its value was $ 15 billion shortly before it collapsed by more than 80 %. His family is also associated with World Liberty Financial, a coding platform that has not yet been launched, but has already sold more than a billion dollars of distinctive symbols.
The Securities and Stock Exchange also closed cases associated with people and companies that supported Trump. On Thursday, the agency and Justin Sun requested an investor to encode $ 75 million in the world financial freedom, and he jointly requested a stoppage in the legal case against him. On the previous day, Gemini Trust, the exchange exchange of the billionaire Twins, said that the Supreme Education Council had closed its case without taking any action. The twins tried to donate a million dollars in Bitcoin for Trump’s campaign in 2024.
Even with Gensler, SEC says it does not ignore the crime. The agency is now talking to both industrial players and the public about the type of enforcement approach to use the foot. But fraud will not leave alone.
“The CFTC) now provides the advice of the encryption companies,” said Christopher Giancarlo, who is accustomed to managing the CFTC futures trading committee (CFTC) and is now providing the advice of encryption companies:
“They are looking for industry to return to a more traditional American spirit for the Internet, which is building things and breaking things, and do not ask about permission, and tolerance.” He added: “There is one major warning to that, and this does not cheat people.”
Giancarlo said CFTC can bear more responsibility under this new organizational preparation.
“When it comes to fraud, manipulation and market misconduct, it will continue to see a very strong enforcement activity,” he said. “It may be more powerful because it will be less dispersed by following companies because of technical violations.”
Meanwhile, Crypto is still in a state of chaos in other places, specifically violations of fraud and security. On February 21, infiltrators stole $ 1.5 billion from bybit, another major exchange. In January, Argentina President Javier Miley was dragged into a coding scandal. He had promoted Mimikoin, which ended at the cost of investors about $ 251 million of losses.
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