BlockBeats News, April 15th, according to CNBC, according to CNBC, Arjun Sethi, Co-CEO of the cryptocurrency exchange platform Kraken, confirmed that the company has secretly submitted an IPO application to the U.S. Securities and Exchange Commission.
According to reports, the valuation of this cryptocurrency exchange platform has shrunk by more than $6 billion. The Deutsche Boerse Group has pledged to invest $200 million in Kraken in exchange for a 1.5% fully diluted equity stake, which means Kraken’s valuation will reach $13.3 billion. In November last year, Kraken announced a $8 billion financing round, with a valuation of $20 billion at the time.
Less than a month ago, due to a crypto market winter where the price of Bitcoin plummeted 40% from its October all-time high, Kraken paused its IPO plans.
