Kraken Intends to Raise $1 Billion in Debt
Analysis
Price Impact
MedKraken raising $1 billion in debt and planning an equity raise suggests expansion and confidence, but also increased leverage. acquisition of ninjatrader shows traditional finance sector expansion.
Trustworthiness
HighNews from u.today, reporting on bloomberg's report, suggests high trustworthiness. mentions collaboration with jpmorgan and goldman sachs.
Price Direction
BullishExpansion and potential ipo suggest positive sentiment and increased adoption, potentially driving prices up in the long term. dismissal of sec lawsuit helps.
Time Effect
LongDebt raising, ipo, and acquisitions are long-term strategies that will take time to materialize.
Original Article:
Article Content:
Cover image via www.freepik.com Read U.TODAY on Google News Kraken, one of the leading cryptocurrency exchanges, is aiming to secure $1 billion worth of debt in order to boost its growth, according to a recent report by Bloomberg . Advertisement The massive debt raise is expected to happen ahead of the exchange's rumored initial public offering. In early March, Bloomberg reported that Kraken could be on track to become a public company less than a year from now. HOT Stories Kraken Intends to Raise $1 Billion in Debt Ripple CEO: US Is Finally Unlocked Top Bitcoin Critic Reveals 'Only Scenario' Where Crypto Doesn't Crash 1 Million Bitcoin Prediction Made by Max Keiser Kraken has reportedly collaborated with JPMorgan and Goldman Sachs in order to raise the debt. Advertisement On top of that, the leading global cryptocurrency exchange is planning an equity raise. Kraken was expected to go public in 2022 via a SPAC merger. Notably, the cryptocurrency trading platform appointed financial services veteran Carrie Dolan as its CFO that year. The move indicates that the exchange is getting serious about its IPO plans. Doland was responsible for managing the IPO of LendingClub Corporation in 2015. Back then, it was one of the biggest internet IPOs of all time in the U.S. Related Wed, 06/19/2024 - 13:11 Top Exchange Kraken Discovers “Extremely Critical” Bug Alex Dovbnya However, its IPO plans were then postponed, but the exchange might now go pubic now due to a friendlier regulatory environment. Coinbase, the leading U.S. exchange, went public back in April 2021 to much fanfare. Earlier this month, Kraken also agreed to acquire futures broker NinjaTrader for $1.5 billion in order to expand its presence in the traditional finance sector. Related Mon, 02/10/2025 - 11:50 $642 Million Worth of Bitcoin Stun Major US Exchange Kraken Yuri Molchan As reported by U.Today , the SEC agreed to dismiss its lawsuit against Kraken on March 3 as part of its major push to ease enforcement.