Cryptocurrency exchange Kraken is said to be in talks for pre-IPO funding, Bloomberg reported, citing people familiar with the firm’s plans.
Kraken is looking to raise more than $100 million, which may be completed by the end of this year, Bloomberg said.
There have been rumblings about Kraken’s aspirations to go public for the last few years. The firm has been busy dealing with accusations brought last year by the U.S. Securities and Exchange Commission (SEC) that it operated an unregistered platform and improperly mixed customer funds.
A spokeswoman declined to comment on the raise but said, “We are always exploring strategic paths towards Kraken’s Mission: accelerating the global adoption of crypto. We remain fully focused on investing in this goal.”