According to reports, the American cryptocurrency exchange Kraken plans to raise $500 million at a valuation of $15 billion, as the company is considering a potential public offering.
The Information cited sources familiar with the matter on Tuesday to report this $500 million financing plan, adding that Kraken's last valuation in 2022 was approximately $11 billion.
Bloomberg reported in March that Kraken aims to go public as early as the first quarter of 2026, citing a more favorable regulatory environment under the Trump administration.
The company may be seeking to capitalize on the recent IPO boom, which has so far yielded substantial returns for trading platforms like eToro and cryptocurrency stablecoin issuer Circle Internet Group.
According to CoinGecko data, Kraken currently has a daily trading volume of about $1.37 billion, listing over 1,100 trading pairs. Its trading volume is about half that of its main U.S. competitor Coinbase, which has a daily trading volume of $2.77 billion and 448 trading pairs.
Kraken did not immediately respond to Cointelegraph's request for comment.
As Bitcoin (BTC) continues to hit new highs, investors are seeking exposure to the industry, leading to a significant surge in cryptocurrency companies this year.
USDC issuer Circle completed a $1 billion public offering in early June and began trading at $31 on the New York Stock Exchange. It has since risen 484%, closing at over $181 on Tuesday.
The trading platform eToro (ETOR), which offers stock and cryptocurrency trading, went public on Nasdaq in May at $52 and has since risen over 16.5%, with a recent closing price of $60.71.
Meanwhile, Coinbase (COIN), which went public in 2021, has surged 50% since the beginning of the year. Similarly, Robinhood Markets (HOOD), which also offers cryptocurrency trading, has risen 162% so far in 2025.
Kraken is reportedly the latest cryptocurrency company considering going public after a wave of cryptocurrency-friendly regulations emerged in the U.S. and regulatory lawsuits against cryptocurrency companies were dismissed.
The U.S. Securities and Exchange Commission (SEC) withdrew its long-standing securities violation lawsuit against Kraken in March, marking one of many complaints against cryptocurrency companies that the regulator has dropped during Donald Trump's presidency.
Other companies that have gone public or indicated plans to do so include fintech company Ripple, cryptocurrency exchange Gemini, digital asset and data center infrastructure company Galaxy Digital, Grayscale, and the cryptocurrency exchange Bullish, which is backed by Peter Thiel.
In June, Kraken launched a peer-to-peer payment app called "Krak," allowing users to send fiat and cryptocurrency without borders.
The company also announced that after obtaining a license under the Markets in Crypto-Assets (MiCA) framework in June, it can now expand its products and services throughout the European Union.
Related: JD.com registers stablecoin-related entities "Jcoin" and "Joycoin," as Hong Kong's stablecoin system approaches
Original article: “Reports say Kraken seeks $500M raise at $15B valuation, rumored IPO in 2026”
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