- Kraken plans IPO in 2026 after Trump-era regulatory shifts eased legal challenges.
- Despite setbacks, Kraken’s transparency and growth make it well-positioned for an IPO.
- Kraken’s 2024 revenue hit $1.5B, with $380M EBITDA and $665B in trading volume.
Kraken, one of the world’s largest cryptocurrency trading platforms, operating legally under the name Payward Inc., plans to go public in Q1 of the 2026 IPO season. This follows a shift in regulatory climate after Donald Trump was elected President.
Kraken has not set a fixed IPO date and is still evaluating its options. It has been very responsive to the changing landscape of the virtual currency market, and its operations suit the current conditions. Kraken has always prioritized transparency, a trait relatively rare among many cryptocurrency firms. The company was among the first to release its proof-of-reserves, which gained the trust of the market. In an interview, Kraken committed to being as transparent as possible.
We recently disclosed 2024 financial highlights to be more transparent about our business, which is something we started by being the first to publish proof of reserves, and we’re going to continue to prioritize going forward
Impact of Regulatory Changes
The company has considered going public multiple times in recent years, but regulatory changes under the Biden administration have made this challenging. The SEC raised legal problems with Kraken, including one that it settled and another that was dismissed without the filing of charges. The evolving regulatory landscape under Trump’s administration may provide Kraken with a clearer path to an IPO, reducing future uncertainties.
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Kraken’s financial performance for the fiscal year ended December 2024 shows that the firm has all the prospects of going for an IPO. The exchange recorded $1.5 billion in revenue, a 128% increase from the previous year, highlighting strong growth. The company reported an adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $380 million, executed $665 billion in trading volume, and held $42.8 billion in customer assets by year-end.
