Kraken Seeks Private Investments to Get $4 Billion Valuation
Kraken, one of the oldest and most respected crypto exchanges, offered its clients to buy shares in the company. The minimum investment sum starts at $100,000.
The crypto exchange Kraken sent email notifications to its wealthy clients with a proposal to participate in a round of investments. The minimum investment amount is set at $100,000. This will increase the valuation of the company to $4 billion.
Kraken does not intend to conduct a public offering. And shares for sale will not be available to the public.
As the Kraken CEO Jesse Powell told Coindesk, the company is profitable and holds significant reserves. Therefore, the investments raising is not a necessity. The exchange may direct raised money to acquisitions.
Powell did not specify what acquisitions at the table. But he said that the first statements on this issue may appear as early as at the beginning of 2019.