Kraken Quietly Files S-1 as IPO Preparations Move Into Focus

Kraken's parent company has taken a significant step towards an initial public offering (IPO), aiming to join other cryptocurrency firms like Circle, Gemini, Bullish, and Figure Technologies. This move comes amid a volatile market, indicating Kraken's commitment to growth despite industry challenges.

Kraken has confidentially filed for an initial public offering (IPO) in the U.S. through Payward, Inc. following a successful $800 million fundraising round that has valued the cryptocurrency exchange at $20 billion.

Crypto exchange Kraken has submitted a confidential filing for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). This filing comes shortly after Grayscale Investments announced a similar move, indicating a trend among cryptocurrency firms seeking to go public.

Kraken has confidentially filed for an initial public offering (IPO) in the United States, a move that may indicate growing mainstream acceptance and regulatory scrutiny of the cryptocurrency sector in the country.

Kraken has successfully raised $800 million through two funding rounds, resulting in a valuation of $20 billion. The funding was significantly bolstered by a $200 million investment from Citadel Securities. This financial boost is expected to support Kraken's expansion plans in the competitive cryptocurrency market.

Kraken, a US-based cryptocurrency exchange, has secured a $200 million investment from Citadel Securities, leading to a valuation of $20 billion. This investment is part of Kraken's growth strategy, with Citadel expressing commitment to collaborate on risk management and market structure analysis. This funding follows a previous round in September where Kraken raised $600 million at a $15 billion valuation.

Solana has initiated a recovery wave from the $128 level, with its price currently consolidating above $135. The cryptocurrency has encountered resistance near the $142 mark, which it must surpass to continue its upward trajectory. A significant break above a bearish trend line at $137 has occurred, indicating potential for further gains if key resistance levels are cleared. The price movement aligns with broader trends observed in Bitcoin and Ethereum, suggesting a positive sentiment in the market.

XRP price has begun a new decline, falling below the $2.250 mark and currently facing resistance around the $2.32 pivot level. The price is trading under $2.250 and the 100-hourly Simple Moving Average, with a bearish trend line forming at $2.2250. Despite a brief recovery attempt above $2.280, XRP has struggled to maintain upward momentum, dropping below key support levels. Analysts warn that if XRP settles below $2.10, further declines may follow.