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Top crypto exchange Kraken is in discussions for a final funding round before going public.&nbsp;
Kraken is looking to raise around $100 million ahead of launching an initial public offering (IPO), according to Bloomberg’s sources. People familiar with the matter <a href="https://www.bloomberg.com/news/articles/2024-06-06/crypto-exchange-kraken-said-to-be-in-talks-for-pre-ipo-fund-raising-round" target="_blank" rel="noopener noreferrer nofollow">suggest</a> that Kraken could conclude the funding round by the end of the year.
A Kraken spokesperson declined to comment on the matter when contacted by crypto.news.&nbsp;
<a href="https://crypto.news/?s=Kraken" rel="noopener noreferrer nofollow">Kraken</a> is a crypto titan with a long history of servicing the nascent industry and spearheading advancement. However, given unresolved legal tension, it’s unclear what its latest fundraising efforts might yield.
Specifically, the U.S. Securities and Exchange Commission (SEC) sued Kraken last year for allegedly commingling client assets with corporate funds and operating an unregistered securities exchange.&nbsp;The company <a href="https://crypto.news/kraken-again-asks-to-dismiss-sec-lawsuit-citing-incorrect-wording/" rel="noopener noreferrer nofollow">denied</a> the allegations and is currently fighting the SEC, along with industry colleagues like <a href="https://crypto.news/?s=Coinbase" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a>, which face similar allegations.
You might also like: <a href="https://crypto.news/kraken-again-asks-to-dismiss-sec-lawsuit-citing-incorrect-wording/" rel="noopener noreferrer nofollow"> Kraken again asks to dismiss SEC lawsuit, citing incorrect wording </a>
<h2 class="wp-block-heading" id="kraken-and-crypto-companies-target-bigger-balance-valuations">Kraken and crypto companies target bigger balance valuations</h2>
A few American-based crypto companies plan IPOs as regulatory winds shift in the U.S. ahead of the winter presidential elections. In January, stablecoin issuer Circle <a href="https://crypto.news/stablecoin-issuer-circle-plans-legal-base-shift-to-us-ahead-of-ipo/" rel="noopener noreferrer nofollow">filed</a> its IPO after a previously failed attempt through a special purpose acquisition company (SPAC) agreement.&nbsp;
While not a crypto-native company, social network Telegram has <a href="https://crypto.news/ton-toncoin-high-telegram-ipo/" rel="noopener noreferrer nofollow">accrued</a> a blockchain spotlight for its affiliations with The Open Network (TON). The platform also has an IPO in the works.&nbsp;
Read more: <a href="https://crypto.news/money-20-20-monica-long-says-sec-is-not-a-friendly-entryway-for-us-in-the-us/" rel="noopener noreferrer nofollow"> Money 20/20: Monica Long says ‘SEC is not a friendly entryway for us in the US’ </a>

Crypto exchange Kraken eyes $100m pre-IPO raise

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