In a previous meeting, Jesse Powell, the CEO of crypto platfrom Kraken, stated that his business is thinking about going public with a direct listing at an unknown date in the following year, comparable to pioneering crypto platform Coinbase. In an interview with CNBC, he said

We are looking at being able to go public sometime next year. It would probably be a direct listing, similar to Coinbase.

Coinbase reported in the previous week that the ‘usefulness of listing agreement’ of its Form S-1, which was previously lodged with the US Securities and Exchange Commission and refers to the platform’s application for a public direct listing of its Class A common stock, was successful.

Just last week,  the SEC approved the expected listing date of its Class A Common Stock. As a result, the federal government has permitted the Nasdaq Global Select Market offering of its Class A Common Stock.

CoinBase, America's Largest Crypto Exchange, Announces its Public Stock  Listing on The Nasdaq in April 2021 Under the 'COIN' Ticker Symbol -  Bitcoin KE

Kraken’s CEO has stated that the cryptocurrency firm is now in negotiations with stakeholders for a new round of investment, which some sources say is worth up to $20 billion. Powell claims that:

We have been in some talks to do another round. We’ve kind of been delaying a bit to see where the Coinbase valuation comes in at. I suspect that the price is gonna pump much higher than it has been trading at.

Powell soon clarified, nevertheless, that his staff was not in a hurry to collect funds.

The reason to do it [raise funds] would just be to bring on some more strategic investors who can help us with geographic expansion and growth.

Kraken, as per CoinMarketCap, has around 6 million customers and is the fourth-biggest platform in terms of trading amount.

Powell said that the Bitcoin boom aided the business’s financial results, with the first quarter was over the whole year.

We beat last year’s numbers by the end of February. The whole market has really just exploded.

The cryptocurrency platform’s spot trading amounts in the first quarter were 1.5 times bigger than previous year’s totals, touching a historic average of $160 billion, according to reports.

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