KRAKEN CONFIDENTIALLY FILES FOR IPO

Summary from the TLDR Crypto newsletter

Kraken confidentially filed for a US IPO following an $800 million raise at $20 billion valuation, including $200 million from Citadel Securities, with proceeds earmarked for international expansion and payment services buildout. The 2011-founded exchange joins a wave of crypto companies tapping public markets under the Trump administration after Circle's $1 billion June IPO and Bullish and Gemini's listings in August and September. Kraken declined to comment on IPO timing.