Cryptocurrency exchange Kraken’s co-CEO has confirmed the company confidentially filed for an initial public offering. The confirmation follows a report in March that suggested the IPO plan was on hold due to market conditions. Kraken’s parent company also secured a $200 million investment from Deutsche Börse Group, valuing the firm at approximately $13.3 billion.
Kraken co-CEO Arjun Sethi confirmed the crypto exchange has confidentially filed for an IPO. The statement was made during the Semafor World Economy 2026 conference when asked about plans to take the company public.
An unconfirmed report in March suggested the IPO plan, originally filed with the SEC in November, may have been frozen. Sethi did not address the reported pause but confirmed the confidential filing.
When asked if his confirmation was news, Sethi stated, “I believe that’s news.” The exchange did not immediately respond to a request for comment on whether it is actively pursuing the IPO.
Deutsche Börse Group invested $200 million in Kraken’s parent firm, Payward, on Tuesday. The investment acquired a 1.5% fully diluted stake, valuing Kraken at $13.3 billion.
This valuation is down from approximately $20 billion last November. Kraken stated the investment aims to bring crypto and traditional finance closer together as a single infrastructure.
Sethi dismissed the idea that policy developments in Washington drove or stalled the IPO plans. “If you’re thinking about your company three, five, 10 or 20 years out, none of this is meaningful,” he said at the conference.
He also suggested that going public is not merely for gaining access to more capital. Sethi stated that it depends on the specific market and the level of trust with regulators.
