Kraken's co-CEO Arjun Sethi has stated that the cryptocurrency exchange is not rushing into an IPO, despite recent listings by competitors Bullish and Gemini. Sethi emphasized that Kraken will not act out of "FOMO" and is instead concentrating on strategic acquisitions. The company is actively acquiring smaller firms, such as Breakout and NinjaTrader, to align with its growth strategy. In addition to acquisitions, Kraken is expanding its service offerings, including custody and prime brokerage services, aiming for institutional investors to contribute one-third of its revenue. Sethi confirmed that Kraken remains profitable with positive EBITDA and was valued at $15 billion before acquiring NinjaTrader in March. He reiterated that Kraken has no plans to become a bank or broker.
Kraken Co-CEO Arjun Sethi: No Immediate IPO Plans, Focus on Strategic Acquisitions
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