Kraken decided to rethink its plans for going public as Coinbase's decision to go public via direct public offering faced high volatility. Kraken's CEO, Jesse Powell, told Fortune that the exchange is now "looking at it more seriously."
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"An IPO is looking a little more attractive in light of the direct listing's performance. I would say we are looking at it more seriously now, having the benefit of seeing how the direct public offering played out for Coinbase," Powell said.
The Kraken CEO emphasized that he hopes to make a public debut in Q2, 2022. The exchange plans to have more analyst for this matter. Powell's comments come after Coinbase's shares (COIN) reached almost all-time low of $220. As of press time, COIN is up 1.67% and is trading at the $225.56 mark.
As iHodl earlier reported, Kraken might be considering establishing its presence in India. In addition to Kraken, Bitfinex and KuCoin are also trying to figure out whether they should enter the market by setting up a subsidiary or acquiring a local firm. However, as of press time, none of the exchanges officially commented on the news.
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