Kraken Seeks Up to $1 Billion in Debt Financing Ahead of IPO

Goldman Sachs and JPMorgan Chase are leading the effort, with additional lenders in talks. The funds will not be used for operational expenses but to strengthen Kraken’s market position.

The exchange recently announced a $1.5 billion deal to acquire NinjaTrader, expanding into futures trading. Analysts see this as part of its broader growth strategy.

Kraken also secured a legal win after the SEC dropped its lawsuit against the exchange without penalties. This reflects a shift in regulatory stance under the current administration, with other crypto firms like Consensys also seeing cases dismissed.

With regulatory clarity improving, more crypto firms, including Circle, eToro, and Gemini, are moving toward IPOs, signaling increasing institutional acceptance of the sector.