Kraken weighs in on IPO after Coinbase loose direct listing

US-based exchange Kraken is considering whether to use an IPO or direct listing for the IPO. Kraken CEO Jesse Powell stated that he is considering other options to go public next year after Coinbase's performance. The company will be the second crypto exchange to go public in the US if things go as planned. Kraken Considers IPO and Direct Listing Before Going Public Kraken, one of the leading US-based crypto exchanges, is not sure how to go public. CEO Jesse Powell stated earlier this year that they will use direct listing next year. This stance mimics the direction Coinbase is taking. But he's not so sure now due to the lackluster performance Coinbase has had so far. Powell said in an interview with Fortune: An IPO looks a little more appealing in light of direct listing performance. Now that we have the advantage of seeing how the direct IPO results for Coinbase, I can say that we are taking a more serious look. This explanation may seem strange to some, as the direct listing process allows for a more extensive price discovery period. This would be more in line with how cryptocurrency assets get their prices. In an initial public offering, inputs must be obtained from insurers to help determine the initial price of the shares. But Powell's view now means the company is open to financial advice from these insurers. Powell emphasized that these two environments (Wall Street and the cryptocurrency market) are very different. He was very cautious and did not give a definitive answer on how the company would eventually go public. He suggested that next year Kraken will have more experience and resources: more analyst coverage and just more growth records for the industry that people feel they can trust. Shaken, Unscrambled Cryptocurrency Firms Now Stick to Traditional

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