Crypto exchange Kraken plans to raise up to $1 billion in debt to pave the way for an IPO

According to Bloomberg, cryptocurrency exchange Kraken is considering raising up to $1 billion in debt financing to support future growth and prepare for a possible initial public offering in the first quarter of 2026. Kraken has partnered with Goldman Sachs and JPMorgan Chase to advance the plan and may simultaneously raise some equity financing. Previously, Kraken had spent $1.5 billion to acquire futures platform NinjaTrader, with revenue reaching $1.5 billion in 2024, a year-on-year increase of 128%.