Krutika Adani
Crypto exchange Kraken seeks to raise an additional $100 million before launching its IPO.
Kraken reportedly received several inquiries about a pre-IPO investment from multiple investors, leading the exchange to seek to raise $100 million.
The exchange is expected to generate revenue in the range of $1 billion to $2 billion this year, which helps it seek better valuations.
As Bitcoin hits new highs, it sparks a rally in equity-based crypto investment opportunities. Global fund houses have been keen to invest in such opportunities following the crypto market recovery in 2024.
On the back of a crypto rally, markets saw $5.6 billion in funds flowing into different crypto projects this year.