Co-CEO Arjun Sethi says the exchange is financially strong and not pressured to join the wave of crypto firms going public.
Kraken Holds Back as IPO Wave Grows
As several crypto companies pursue stock market listings in the United States, Kraken is taking a different approach. Despite a more supportive regulatory environment and a surge in public offerings across the sector, the crypto exchange says it is not in a hurry to go public. Speculation of a Kraken IPO has circulated since 2024, but leadership insists the company is stable and well-capitalized as a private entity.
Kraken Stays Cautious on Going Public
Kraken co-CEO Arjun Sethi made clear that the exchange is moving at its own pace. Speaking in an interview, Sethi emphasized the companyâs strong financial position and disciplined internal controls.
âWeâre financially sound. We know how to manage our own risk and run our company responsibly,â Sethi said. âWe have enough capital on our balance sheet today as a private company. We donât race to the door as quickly as possible.â
Arjun Sethi speaking to Yahoo Finance at its Invest event in New York City. :Â YouTube
Reports earlier suggested Kraken was targeting an IPO as early as the first quarter of 2026. However, the company has not confirmed any concrete timing.
The shift in federal policy has encouraged more crypto firms to enter public markets this year, contributing to speculation about Krakenâs next move.
Sethi dismissed the idea that Kraken feels pressure from competitors already going public.
âWe donât have the fear of missing out because everyone else is doing it,â he said.
Recent listings include Grayscaleâs filing for a US debut and the high-profile IPO of stablecoin issuer Circle, whose shares initially surged over 160%. Other firms such as Gemini, eToro, Bullish, Figure and BitGo have also pursued public listings.
Sethi noted that early IPOs benefit the entire sector by helping investors understand financial models and performance metrics. âThese companies coming out first are educating the market on whatâs good, what margins look like, and how you make money,â he added.
Kraken, founded in 2011, has raised $530 million to date, including a major $500 million funding round that valued the exchange at $15 billion.
Sethi said that market corrections are part of the broader growth trajectory across all asset classes.
He emphasized that long-term fundamentals matter more than short-term price movements, especially when comparing crypto assets to traditional money.
Krakenâs stance reflects a strategic decision to prioritize stability over speed. Rather than chasing market momentum, the exchange is positioning itself for long-term growth, even as competitors move toward the public markets.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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