• Kraken is preparing to go public by raising $100 million in a final funding round aimed at organizing a 2025 IPO.
• Ripple may introduce an XRP ETF, mirroring steps in its strategy following significant legal developments.

Kraken is positioning itself for a public debut in 2025 by securing $100 million in what is anticipated to be its final funding round this year, as per a Bloomberg News report. The crypto exchange is actively seeking a prominent industry leader to enhance its board, thereby facilitating the upcoming IPO preparations.

Despite early discussions, as highlighted in a recent CNF YouTube video, formal agreements remain unconfirmed. Kraken has yet to officially announce these plans, focusing instead on its broader mission to accelerate global crypto adoption.

Rumors about Kraken’s IPO surfaced as early as 2021, with the company previously valued at approximately $10 billion. Although former CEO Jesse Powell and current CEO Dave Ripley have hinted at IPO ambitions, no definite plans were disclosed. Kraken’s fundraising efforts have amassed over $30 million through more than 20 rounds to date.

However, a pending lawsuit by the SEC, accusing Kraken of operating as an unregistered securities exchange among other charges, casts uncertainty on these IPO plans. The company has chosen to defend itself against these allegations, which could significantly influence its public offering timeline.

Ripple to Follow Suit with XRP ETF?

On the Ripple front, the situation with the SEC provides a contrasting narrative. Unlike in the lawsuit against Kraken, Ripple’s XRP has not been classified as a security, as emphasized in a previous CNF article. This distinction might pave the way for Ripple to launch an XRP ETF, potentially boosting XRP’s appeal to investors.

Recent trading data shows XRP at $0.5254, reflecting a modest increase of 0.25% daily and 1.20% weekly. As both Kraken and Ripple navigate their respective regulatory and financial landscapes, the crypto community closely watches these developments for indications of how they might shape the market dynamics in the near future.