According to HashNews, Kraken's co-CEO Arjun Sethi recently stated the company is not rushing to pursue an IPO, despite competitors Bullish and Gemini being listed on NASDAQ. Kraken is instead focusing on acquiring smaller firms that align with its strategic goals, such as Breakout and NinjaTrader. The company is also expanding into custody and prime brokerage services, aiming for institutional investors to account for one-third of its revenue. Sethi confirmed Kraken remains independent, is profitable, and had a $150 billion valuation prior to its NinjaTrader acquisition in March 2024.
Kraken CEO Delays IPO, Focuses on Acquisitions and Institutional Growth
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