Crypto exchange Kraken freezes IPO plans, CoinDesk reports


FILE PHOTO: Kraken cryptocurrency exchange logo is seen in this illustration taken July 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

March 18 (Reuters) - ⁠Cryptocurrency exchange Kraken has ⁠put its multibillion-dollar initial public ‌offering plan on hold, CoinDesk reported on Wednesday, citing two people ​with knowledge of the ⁠matter

The company ⁠is still weighing an IPO, but ⁠is ‌unlikely to move ahead until market conditions ⁠improve, according to the report.

Reuters ​could ‌not verify the report, while ⁠a ​Kraken spokesperson declined further comment.

The company confidentially filed for a ⁠U.S. IPO in November ​2025 and was set to go public in the first ⁠quarter of 2026.

Initially focused on crypto, the company has expanded across asset classes in ​recent months, including ⁠equities, with the rollout of ​commission-free trading.

(Reporting ‌by Pritam Biswas in ​Bengaluru; Editing by Anil D'Silva and Jonathan Ananda)

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