Kraken is seeking to raise about $100 million before it launches its initial public offering (IPO), as reported by Bloomberg. However, a spokesperson for Kraken refrained from making any comments when approached by crypto.news. It is uncertain what the outcome of the company’s current fundraising endeavors will be due to unresolved legal disputes.
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Kraken last year, accusing it of mixing client assets with company funds and running an unregistered securities exchange. Despite this legal tension, the platform is still planning to carry out an IPO.