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Crypto exchange Kraken is reportedly in discussions to raise up to $1 billion in debt as it prepares for a potential initial public offering (IPO). The funds are intended to support the company's growth rather than cover operational costs. Kraken is reportedly engaging with major financial institutions, including Goldman Sachs and JPMorgan, to secure this debt package. This move comes amid increasing competition in the U.S. cryptocurrency market, particularly against rivals like Coinbase. The final decision regarding the debt raise and any potential equity capital options has yet to be made.
$KR1.AQ #codeandstate now focused on incubating #stablecoin (infrastructure) startups... ...expect to see a follow-up RNS from #KR1! 👀 https://t.co/wLViD1QYA8 https://t.co/V2rTwh2YVp
Kraken's diving into the deep end, raising up to $1B for growth ahead of its IPO, proving that in crypto, even a downturn can't sink ambition.
Writing a @MilkRoadDaily PRO report on @coinbase Here's the intro (I think you guys might like it): Coinbase to $1 Trillion is a ridiculous statement Why? Because we’ve never had a public finance company reach $1 Trillion in marketcap - JP Morgan, the highest valued bank in