The reported funding round comes amid earlier indications that the crypto exchange is preparing for a potential public offering. Kraken has reportedly raised $500 million at a $15 billion valuation, strengthening its financial position amid growing speculation that the cryptocurrency exchange is preparing for an initial public offering (IPO). The funding was first reported by Fortune, which cited a source close to the negotiations in a profile on co-CEO Arjun Sethi. The source claimed that Kraken closed the round earlier this month. When contacted by Cointelegraph for confirmation, a Kraken representative declined to comment. Read more
Bitcoin showed no sign of a major rebound after the release of major US inflation data, with bid liquidity clustered at $108,200. Key points: Bitcoin sellers attempt to break support at $109,000 at the week’s final Wall Street open. BTC price action can head toward $100,000 as a result, despite a large “deleveraging” event. Read more