RTI Capital Partners (formerly known as Rothschild Investment Trust), has announced it had acquired a stake in the Kraken cryptocurrency exchange.
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In an announcement, the British investment firm said that Kraken is in talks with investors about "another round of fundraising that could give it a valuation of $20 billion." Kraken has not commented the investment.
RTI Capital's purchase comes after Kraken Chief Executive, Jesse Powell, said there is still a chance the exchange might be forced out of the United States due to "over-regulation." As Powell previously said, the watchdogs ask Kraken to close products that they are "not able to shut down for international competitors."
In March this year, a spokesperson for Kraken said the exchange is preparing to become a public company in 2022. Kraken is mulling a direct listing, thus excluding an initial public offering (IPO) and a special purpose acquisition company (SPAC). The exchange has grown too big to do a SPAC, according to the spokesperson.
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