Source: Cointelegraph Original: "{title}"

According to a report by Bloomberg on March 24, cryptocurrency exchange Kraken is considering a significant financing round ahead of a potential initial public offering (IPO) early next year.

Bloomberg cited anonymous sources stating that Kraken is exploring a debt financing plan valued between $200 million and $1 billion. The exchange is reportedly in preliminary negotiations with Goldman Sachs and JPMorgan to facilitate the deal.

According to sources cited by Bloomberg, the funds will be used to support Kraken's growth rather than operational expenses.

Bloomberg has been reporting on Kraken's IPO plans over the past year. Following the election of U.S. President Trump, discussions about the listing have intensified, with Bloomberg reporting that Kraken's IPO could take place in the first quarter of 2026.

When Cointelegraph reached out to Kraken for comments on the potential debt financing plan, a Kraken representative declined to comment.

Kraken is one of the largest cryptocurrency exchanges in the world. According to CoinMarketCap data, it facilitated over $1.1 billion in trading volume in the past 24 hours.

The exchange experienced rapid growth in 2024, with year-end financial statements showing revenue of $1.5 billion—a 128% increase from 2023. The company's adjusted earnings for the year reached $380 million.

Kraken's year-end financial statements show significant growth in revenue, funding accounts, and assets. Source: Kraken

Kraken is expanding its footprint in the derivatives market by acquiring NinjaTrader for $1.5 billion, a well-known brokerage service focused on futures contracts. This acquisition is part of a broader plan for the exchange to expand into multi-asset services, including stocks and payments.

NinjaTrader was founded in 2003 and is registered with the U.S. Commodity Futures Trading Commission.

Source: Arjun Sethi

This acquisition indicates that crypto companies are confidently growing their businesses following the election of a pro-cryptocurrency Republican government. As reported by Cointelegraph, Kraken is one of the few crypto exchanges that have escaped enforcement actions from the U.S. Securities and Exchange Commission.

A positive regulatory environment may have prompted Kraken to decide to resume offering cryptocurrency staking services to U.S. customers after a two-year hiatus. Customers in 37 states can now use staking services for 17 cryptocurrencies, including Ethereum (ETH) and Solana (SOL).

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