Report: Kraken May Go Public as Soon as Q1 2026

Cryptocurrency exchange Kraken is reportedly preparing to go public as soon as the first quarter of 2026.

The company’s plans could change, though, Bloomberg reported Friday (March 7), citing unnamed sources.

When asked about the report by Bloomberg, Kraken did not confirm it.

“We recently disclosed 2024 financial highlights to be more transparent about our business, which is something we started by being the first to publish proof of reserves and we’re going to continue to prioritize going forward,” the company told Bloomberg. “We’ll pursue public markets as it makes sense for our clients, our partners and shareholders.”

Kraken’s earlier plans to go public over the past several years were derailed by the Biden administration’s regulatory enforcements against Kraken and other crypto firms, according to the report.

The company settled one case with the Securities and Exchange Commission (SEC) and fought another one until the SEC agreed to drop it, the report said.

Today, after the inauguration of President Donald Trump, the regulatory climate is friendlier and Kraken Co-CEO Arjun Sethi is among the two dozen crypto industry leaders attending Friday’s crypto summit at the White House, per the report.

It was reported Jan. 31 that Kraken’s revenue more than doubled in 2024 from $671 million to $1.5 billion.

Sethi said at the time that the privately held company plans to continue issuing quarterly reports, something that “gives us an ability to turn the lights for when we are ready for the possibility” of an initial public offering (IPO).

Kraken said in a Monday (March 3) blog post that staff from the SEC agreed to dismiss the commission’s lawsuit against the company, with prejudice, with Kraken making no admission of wrongdoing, paying no penalties and making no changes to its business.

The SEC had filed its complaint in November 2023, charging that Kraken ran an unregistered securities exchange, broker, dealer and clearing agency.

In its Monday blog post, Kraken attributed the change to new leadership at the White House and the SEC and said the lawsuit was always without merit, was politically motivated and “clouded instead of clarified” rules for an industry that sought transparency.