Kraken Considering a Stock Market Debut Next Year: Report

Major cryptocurrency exchange Kraken is considering a stock market debut in 2022, according to Fox Business reporter Charles Gasparino.

Gasparino said Tuesday that Kraken executives are mulling either a tie-up with a special purpose acquisition company (SPAC) or a more traditional initial public offering (IPO).
No major crypto exchange has gone public in the U.S. just yet, but that should soon change as Coinbase is barreling toward a direct listing and eToro announced it's merging with a SPAC Tuesday.
With no bitcoin ETF in sight and crypto service companies booming, Wall Street investors may be eager to capture whatever slice of exchanges they can to ride the wave of a burgeoning asset class.
The multi-pronged crypto brokerage, which also holds a national banking charter, is one of crypto space’s biggest unicorns and has reportedly sought a $10 billion valuation in private equity deals.
Kraken CEO Jesse Powell has previously hinted his interest in going public in 2022, but only at the right price. He said $10 billion is too low. For context, Coinbase, a direct competitor, has an expected valuation of $100 billion and eToro weighs in at $9.6 billion.
Contacted by CoinDesk, a Kraken spokesperson confirmed that while the exchange might consider a public offering next year, any such offering would happen through a direct listing and not through a SPAC as the company is "too big" for that.

UPDATE (March 16, 19:55 UTC): Adds Kraken comment.

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