As U. S. authorities take a more positive attitude toward bitcoin, reports that Kraken’s family business, Payward Inc., is preparing to launch an initial public offering in 2026.
If successful, the San Francisco-based change may be just the next publicly traded U. S. crypto change after Coinbase, which went public in April 2021. A Kraken spokeswoman did not comment on a certain timeframe, but told that going people is indeed on its long-term strategy.
” We recently disclosed 2024 financial shows to be more open about our company, which is something we started by being first to submit proof of reserves and we’re going to continue to promote going forward”, the director told . ” We’ll pursue open areas as it makes sense for our customers, our colleagues and shareholders”.
While stories of Kraken going people have circulated online for years, an unpleasant regulatory environment under the supervision of former President Joe Biden and former SEC Chair Gary Gensler perhaps had prevented the organization from filing an IPO.
In November 2023, the U. S. Securities and Exchange Commission filed charges against Kraken, accusing its parent companies of operating the exchange as an unregistered securities exchange, broker, dealer, and clearing agency. The SEC also alleged that Kraken commingled customer assets with company funds, using customer accounts to pay expenses.
In November, the SEC filed a motion to dismiss Kraken’s key legal defenses, arguing the exchange had prior notice of potential securities law violations.
But with the election of pro-crypto President Donald Trump, regulatory tides are changing. Already since his inauguration, the SEC has moved to dismiss numerous investigations and lawsuits into crypto firms—including an agreement in principle to drop its lawsuit against Kraken. Following that move, it now appears that Kraken is again considering its future options.
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