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- Kraken is negotiating over $1B in debt funding from Goldman Sachs and JP Morgan for expansion.
- The company plans to go public by Q1 2026, following a positive legal outcome and crypto-friendly policies.
- With a 128% revenue growth in 2024, Kraken is set to acquire NinjaTrader for $1.5B to expand offerings.
San Francisco based crypto exchange Kraken is now in negotiations with two of the biggest investment banks, namely Goldman Sachs and J.P. Morgan Chase, for over $1 billion in debt financing. It is part of the strategy that may be implement as it gets ready for the initial public offering (IPO) set for 2026.
Kraken was launch in 2011. It is among the oldest digital currency exchange platforms and is considere a straight rival to Coinbase, the largest American-based exchange. According to an anonymous source mentioned in the Bloomberg article, Kraken was currently in the preliminary negotiation process with both Goldman Sachs and JP Morgan Chase to seek funding to facilitate its expansion. The two banks have also negotiated with other banks and direct lenders concerning the above-mentioned deal.
As sources familiar with the situation noted, any of the funds taken will be use for Kraken’s expansion, not for its operating costs. Kraken also plans to establish equity financing along with debt financing, but the details of the plans and a certain amount have not been announce.
Kraken’s IPO Plans Solidify
Kraken is getting ahead of its rivals in its IPO plan and will go public in the first quarter of 2026. This comes after the U.S. Securities and Exchange Commission (SEC) dismissed the case against the company early this month, opening the way to a public offering. The company is also experiencing a positive effect coming from the current political perspective as the president of the US, Donald Trump, started the introduction of crypto-friendly measures, which can be viewed as positive for the organization.
Earlier this year, in January, Kraken posted a 2024 financial report with annual revenue elevated by 128%. The company’s total revenues were $1.5 billion, and the adjusted earnings stood at almost $380 million. This growth places Kraken in a good spot as it embarks on its plans for an IPO.
Apart from its financial achievements, Kraken has again been making headlines through its acquisition news recently. The company has set its sights on purchasing futures trading platform NinjaTrader for $1.5 billion. This move is part of Kraken’s strategy to expand its offerings and strengthen its position in the competitive crypto market.
The consistently positive financial results, the development of strategic partnerships, and the scale of expansion make Kraken ready for further growth as it sets its path to the IPO.
