Kraken Eyes $1 Billion Debt Raise for Growth
Kraken, a leading crypto exchange, is considering a debt financing of up to $1 billion. This move could help the company grow further. Goldman sachs and JPMorgan are helping Kraken assess this plan. The debt raise, which could be as low as $200 million, aims to support growth, not cover daily costs.
Alongside the debt plan, Kraken is also looking at raising equity. No final decisions have been made yet. The company has seen huge success, with revenue jumping 128% to $1.5 billion in 2024. It serves over 10 million users in more than 190 countries. The platform processes over $207 billion in trades each quarter.
Kraken’s IPO plans are getting a boost from a friendlier regulatory climate. The company hopes to go public by early 2026. A recent win against the SEC lawsuit has cleared a major obstacle. This legal victory supports kraken’s public listing goals.
Founded in 2011, Kraken is expanding it’s services. It recently bought NinjaTrader for $1.5 billion. This acquisition will help Kraken offer more crypto futures and derivatives in the U.S. market. The company aims to enter the equities and payment sectors too.
Kraken’s growth is backed by strong financials.Its earnings before interest, taxes, depreciation, and amortization hit $380 million. The platform’s IPO ambitions are on track. The dismissal of a SEC lawsuit has paved the way for its public listing. The company is also eyeing an IPO. The platform is preparing for the future by diversifying its offerings. The SEC dropped a lawsuit against Kraken, easing its path to an IPO.
