Crypto Exchange Kraken Is in Talks for Pre-IPO Fund Raising Round

Kraken, one the oldest cryptocurrency exchanges, is considering raising a final funding round ahead of a possible initial public offering after receiving inquiries from potential investors during the current digital-asset market rally, according to people familiar with the matter.

The exchange would likely seek to raise more than $100 million, one of the people said. With cryptocurrencies on the verge of all-time highs again and a perceived shift in a US regulatory pushback against digital assets, companies in the sector are receiving renewed interest from investors and reviving talks of going public. Robinhood Markets Inc. said Thursday it will acquire the crypto exchange Bitstamp Ltd. Kraken has talked about doing an initial public offering since at least 2021.