TL;DR
- Kraken plans to go public in 2026, benefiting from a more favorable regulatory environment under Donald Trump’s administration.
- The SEC has softened its stance, dropping multiple lawsuits against crypto firms, paving the way for IPOs in the industry.
- Kraken’s financial growth in 2024 strengthens its IPO viability, with a 128% increase in annual revenue.
Cryptocurrency exchange Kraken, legally known as Payward Inc., is preparing for its initial public offering (IPO) in the first quarter of 2026. This strategic move comes at a time when crypto companies are facing fewer regulatory hurdles, experiencing increased investor confidence, and enjoying greater legal clarity under Donald Trump’s presidency. Unlike the previous administration, which imposed strict regulations on the industry and created significant obstacles, the new leadership at the SEC has adopted a more lenient and business-friendly stance, allowing companies like Kraken to consider going public without fear of legal repercussions or unexpected regulatory crackdowns.
Kraken’s IPO plans have been moving quickly, and according to Bloomberg sources, the company is already preparing the terms for its offering.
“We have always championed transparency in the crypto industry, pioneering proof of reserves. Now, we seek to provide the same transparency to our investors,”
Kraken stated in a press release.
Looser Regulations Drive Crypto IPOs
One of the biggest challenges for cryptocurrency firms has been regulatory uncertainty, which discouraged IPOs and limited industry growth. However, the new SEC leadership has rolled back several lawsuits filed during Joe Biden’s administration. The resolution of key legal battles, such as those involving Kraken and Gemini, is clearing the way for their public listings.
Gemini, the exchange founded by the Winklevoss twins, has already filed a confidential IPO application, with Goldman Sachs and Citigroup as underwriters. This move highlights the renewed institutional interest in digital assets and signals a new phase for the crypto industry.
A Promising Future for Crypto on Wall Street
Kraken’s financial growth further reinforces its potential as a publicly traded company. In 2024, the exchange recorded $1.5 billion in revenue, with an adjusted EBITDA of $380 million. Additionally, it processed $665 billion in trading volume and held $42.8 billion in customer assets. These figures reflect a recovering market and the increasing interest of traditional investors in the sector.
With the Trump administration creating a more crypto-friendly landscape and more companies preparing to go public, 2026 could become a historic year for the integration of the crypto industry into Wall Street.
