Kraken, a cryptocurrency exchange, is contemplating raising $1 billion in debt with the assistance of Goldman Sachs and JPMorgan Chase, as reported by Bloomberg. This move is in preparation for a potential initial public offering (IPO), which could occur as early as the first quarter of 2026. The debt discussions are currently in the preliminary stages. Kraken's IPO considerations follow the SEC's decision to drop its case against the company for alleged securities law violations. The company has been exploring public listing options since 2021 and previously considered a pre-IPO funding round in mid-2024. In 2024, Kraken reported over $1.5 billion in revenue, while its competitor, Coinbase, went public in April 2021.

Crypto exchange Kraken is considering raising $1 billion in debt ahead of a possible initial public offering, according to Bloomberg, which cited anonymous sources.The company is working with Goldman Sachs and JPMorgan Chase and the debt talks are at a "preliminary stage," according to the report.Earlier this month, Kraken said it isconsidering an IPO as soon as the first quarter of 2026, though the company could still change course. Kraken's plan to possibly go public follows the SEC dropping its case against the firm for alleged securities law violations. Bloomberg was the first to report the news.Kraken has considered going publicas far back as 2021. It also explored raising over $100 million in apre-IPO funding round in mid-2024. Last year, itrecorded over $1.5 billion in revenue in 2024. Its U.S. rival, Coinbase, went public in April 2021.

Kraken Considers $1 Billion Debt Raise with Goldman Sachs and JPMorgan Ahead of Possible IPO