Kraken CEO: We will not follow the trend to go public, the company is well-capitalized and does not need to rush into an IPO

According to Cointelegraph, Kraken co-CEO Arjun Sethi stated in an interview with Yahoo Finance that despite the policy environment becoming friendlier and market conditions improving, Kraken is not in a hurry to go public in the United States.

Sethi emphasized, "We are in a strong financial position, with enough capital on our balance sheet, and we are not rushing to the door just because other companies are going public." Since mid-2024, there have been rumors about Kraken planning to go public, and Bloomberg reported in March that the company could go for an IPO as early as the first quarter of 2026.

This year, several crypto companies have successfully gone public. Stablecoin issuer Circle saw its stock price soar over 160% to above $83 after its June IPO, then surged to over $260 in the following days, and has since fallen back to around $82. Gemini, Bullish, eToro, and blockchain company Figure have also gone public, while custody firm BitGo submitted its IPO application in September, and Grayscale also filed for an IPO on Thursday.

Regarding Bitcoin's recent pullback of over 22% from its peak of over $126,000 in early October to around $97,000, Sethi expressed that he is not worried, believing that "what's more important is the investment logic behind holding Bitcoin, Ethereum, or other assets, rather than holding dollars or other stocks."