Crypto exchange Kraken is reportedly trying to generate new cash from a surge that could worth over $ 10 billion to the company.

 

New moves

According to Bloomberg News, the US stock exchange is in talks to raise funds from firms such as Fidelity, Tribe Capital and General Atlantic.

The report added that although the conditions are not certain, the exchange could get a valuation of over $ 20 billion in case of high enough demand.

On Thursday, Kraken’s competitor, Coinbase, presented a public S-1 file that paves the way for it to be listed directly on the Nasdaq under the acronym ‘COIN’.

The filing provides insight into the growth of the crypto exchange’s business units behind Bitcoin’s price rally last year.

Coinbase generated $ 1.1 billion in net income for 2020, more than doubling since 2019.

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