Kraken, a cryptocurrency exchange, has dropped hints that its initial public offering (IPO) is still moving forward, despite rumors that it was shelved last month owing to market circumstances. In November, Kraken submitted an application to the US Securities and Exchange Commission (SEC) for a confidential initial public offering (IPO), but a March report did not corroborate this and hinted that the idea could have been shelved.
When asked about any imminent intentions to take Kraken public by Semafor reporter Rohan Goswami, Kraken co-CEO Arjun Sethi revealed the business had “confidentially filed” for an IPO during Tuesday’s speech at the Semafor World Economy 2026 conference. However, he did not address the halt.
Not Going for IPO for Funds
On Tuesday, Sethi made his remarks after an investment of $200 million by the German financial markets platform Deutsche Börse Group in Kraken’s parent company, Payward, in return for a 1.5% fully diluted share.
A decrease from $20 billion in November, Kraken’s valuation dropped to $13.3 billion after the transaction. According to Kraken, the investment from the Deutsche Börse Group aims to merge TradFi and crypto into a “single, cohesive infrastructure for institutional clients” instead of running them in separate platforms.
At the Semafor conference, Sethi discussed going public in a broader sense and rejected the notion that regulatory changes in Washington may have prompted or delayed Kraken’s IPO.
Sethi said:
“If you live day by day, quarter by quarter, these things are meaningful. But “if you’re thinking about your company three, five, 10 or 20 years out, none of this is meaningful. It just doesn’t matter.”
Kraken isn’t going public for the money, according to Sethi; rather, it will depend on the market and the level of confidence between regulators and the company.
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