Cryptocurrency exchange Kraken might go public in 18 months, Jesse Powell, Kraken CEO, told Bloomberg in an interview. Powell says the San Francisco-based cryptocurrency exchange is "doing all the prep work" for the IPO.
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"We are on a mission to bring crypto to the world, and our valuation hopefully will be a reflection of our success in achieving that mission," Powell said.
The Kraken CEO also thinks that bitcoin's recent sell-off was triggered by "swing traders," and people who entered the market only last year. Powell thinks that people who have been in the market for the fundamental reasons understand the true long-term impact of cryptocurrencies.
The announcement of the deadline comes after the exchange decided to rethink its plans for going public as Coinbase's decision to go public via direct public offering faced high volatility.
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