Although Nakamoto might be turning in his grave, this is the reality, and almost all participants in the crypto ecosystem want it this way. Crypto, increasingly intertwined with traditional markets, is becoming more like them. How suitable is this for Nakamoto’s philosophy? It is not, and Bitcoin‘s claim is now evolving. For those who say to leave the philosophy and get to the point, crypto may rise a bit.
Kraken Public Offering
Kraken exchange is reportedly in the final stages before its public offering, according to recent Bloomberg reports. Following the Coinbase exchange, the excitement in cryptocurrencies could increase with another relatively smaller exchange being publicly traded. The risk appetite in the crypto markets is already on the rise. Kraken wants to capitalize on this.
According to sources familiar with the plans of the popular crypto exchange, investors will be asked for support for one last funding round before the public offering. One of these individuals says the exchange will likely raise more than $100 million. Today, we learned that Robinhood will buy the Bitstamp exchange for $200 million, indicating that competition could heat up.
Since 2021, Kraken has been struggling for a public offering and could turn this into an opportunity as the current US administration’s crypto pressure has eased. When Ripple and many other companies escape the SEC’s grip, Kraken will focus on what it is trying to achieve.
