Coinbase Rival Kraken Looking To Go Public at $15,000,000,000 Valuation: Report

The second-largest US-based crypto exchange by trading volume is reportedly an initial public offering (IPO) candidate for next year.

Citing people familiar with the matter, The Information reports that Kraken is eyeing to raise $500 million at a $15 billion valuation.

The price tag represents a significant increase from when the 14-year-old Coinbase challenger was valued at just $11 billion in 2022.

The report says the valuation may impact the company’s plans to go public.

“What it doesn’t really have is the kind of roster of institutional investors it would likely need to pull off a public listing. This latest round could help, if it can get investors comfortable with that valuation.”

In March, Bloomberg reported that Kraken is planning a public debut in the first quarter of 2026. The development comes as a number of other crypto companies consider a stock launch following the election of Donald Trump, who vowed to support the digital assets industry.

Kraken has already started to publicly release its financial figures. In moving forward to a potential IPO, the exchange said that it is taking into account the interests of the company’s stakeholders.

“We recently disclosed 2024 financial highlights to be more transparent about our business, which is something we started by being first to publish proof of reserves and we’re going to continue to prioritize going forward. We’ll pursue public markets as it makes sense for our clients, our partners and shareholders.”