Kraken confidentially files for IPO as crypto exchange eyes public markets. Co-CEO Arjun Sethi announced Tuesday that the major crypto exchange has moved forward with its initial public offering plans after pausing earlier this year due to market conditions. Deutsche Börse invested $200 million in Kraken, acquiring a 1.5% stake and valuing the company at $13.3 billion, down from its $20 billion valuation in November. The investment expands the partnership between traditional finance and digital assets. Kraken aims to democratize sophisticated trading tools previously available only to professional investors and plans to accelerate bringing traditional financial products on-chain through organic growth and strategic acquisitions.
