Kraken Weighs in on IPO After Coinbase’s Lackluster Direct Listing Performance
Kraken, the US-based exchange, is weighing in on whether to use an IPO or a direct listing to go public. Kraken’s CEO Jesse Powell stated that after Coinbase’s performance, they were considering other options for going public next year. The company will be the second crypto exchange to go public in the US if things happen as projected. Kraken Considers IPO vs Direct Listing for Going Public Kraken, one of the leading US-based crypto exchanges, is having doubts about how to go public. Its CEO, Jesse Powell, had indicated earlier this year they would use the direct listing....
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Kraken CEO Jesse Powell is having second thoughts about a direct listing in light of Coinbase going public, and is potentially leaning towards an IPO instead. Jesse Powell is rethinking Kraken’s plan to go public which is set for late 2022, following the uninspiring performance of Coinbase stock (COIN) since its launch on April 14.Speaking with Fortune on June 11, Powell stated that in light of the performance on Coinbase’s direct public offering, the firm is now considering an initial public offering (IPO) more “seriously now,” as the firm is looking to avoid potential issues a direct....
Cryptocurrency exchange Kraken is reportedly considering following in Coinbase’s footsteps and conducting a direct public listing.
Kraken could follow Coinbase's footsteps by becoming the next Unites States-based crypto exchange to be a publicly-traded company. Kraken CEO Jesse Powell has revealed that the crypto exchange could go public before the end of 2022.Powell made this known during an interview with Bloomberg TV, stating that the move would be a natural progression for the company in its mission to “bring crypto to the world.”According to Powell, Kraken is currently doing “prep work” towards going public in the next 12 to 18 months. However, the exchange CEO did not give a target valuation for the upcoming....
Does Coinbase’s mild direct listing performance have emerging crypto platforms thinking twice about going public? The latest comments from major cryptocurrency exchange Kraken might be suggesting so. In an interview with CNBC earlier this year, Kraken CEO Jesse Powell shared that the company was considering going public via a direct listing in 2022. Coinbase went […]
Coinbase’s reference price of $250, received ahead of the Nasdaq direct listing, values a “thank you” gift to all 1,700 full-time employees at $25,000. Major U.S. exchange Coinbase’s COIN stock has received a reference price at $250 from Nasdaq, ahead of the much-anticipated direct listing on the stock exchange just hours from now.The price is far below the current FTX pre-trading price of $600, albeit on thin 24-hour volume of under $4 million.The exchange is going public via a direct listing instead of an IPO, meaning the reference price is not a direct indicator of the company’s market....