Kraken’s Dan Held said the crypto exchange is still going public, despite a recent tumble in the price of bitcoin.
“Everything seems to still be on track for a direct listing sometime in 2022, but I don't have any idea of what timing that might be,” he said during an interview at CoinDesk’s Consensus 2021.
The answer came in response to a question about the crypto market’s recent sag. When Coinbase went public through a direct listing in April, bitcoin was changing hands north of $60,000; the leading crypto asset is struggling to break $40,000 as of press time.
“I would push back and say that the crypto markets are looking great right now,” said Held. “If you look at Kraken volume, alongside other exchange volume, we hit all-time highs a few weeks ago. Kraken had an $8-billion volume day, that’s an incredible amount of money traded.”
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.