Kraken in talks with Goldman Sachs and JPMorgan to raise $1 billion in debt ahead of IPO

Global cryptocurrency exchange Kraken is considering raising $1 billion in debt ahead of its IPO, Bloomberg reported, citing unnamed sources.
According to a report on the 24th (local time), Kraken has received funding from Goldman Sachs, JPMorgan Chase,
Kraken is reportedly working with SEC and Chase and discussions about raising debt are still in the early stages. Earlier this month, Kraken said it was considering an IPO as early as the first quarter of 2026.
The plan to move forward with Kraken's IPO comes after the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit against the company for allegedly violating securities laws.
Kraken has been considering a possible IPO since 2021 and previously raised more than $100 million in pre-IPO funding in mid-2024.
The cryptocurrency recorded sales of more than $500 million. Kraken's US competitor, Coinbase, went public in April 2021.