After a season of layoffs, the Kraken IPO date is finally shaping up.
Founder and former CEO Jesse Powell planted the seed back in 2021, and now the timeline begins to solidify. Bloomberg reports the parent company, Payward, is zeroing in on an early 2026 launch.
Kraken IPO Date: Leadership Restructuring and a Leaner Vision
Kraken’s transformation started in late 2024 with a hard pivot at the top. Investor and board member Arjun Sethi stepped in as co-CEO alongside David Ripley, and the duo didn’t waste time firing everyone and anyone.
As Elon Musk and Trump were ripping apart the U.S. government Kraken did the same.
A 15% workforce reduction slashed 400 jobs by year’s end, only to be followed by quieter, relentless layoffs. Insiders describe it as a rolling purge, all aimed at bolstering EBITDA. “Kraken’s cutting hard and fast across every department,” said a source close to the chaos.
Kraken IPO set for Q1 2026.
A milestone that could reshape the space:1. More trust + legitimacy
2. Institutional capital inflows
3. Product expansionTL;DR: Crypto will get more credible, liquid, and accessible.
— Kim (@kimtalkscrypto) April 18, 2025
Kraken’s moves mirror the crunch of a shrinking crypto market. Global trading volumes nosedived 27% in Q1 2025, wiping nearly $1 trillion off the market cap. For exchanges running on transaction fees, the math gets ugly fast.
They’re not alone. Coinbase and Binance have also swung the axe in leaner times, proving once again that exchanges rise and fall with the market.
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Positioning for an IPO in a Volatile Market
The stakes couldn’t be higher for Kraken. A volatile global economy and rumors of recession in Europe and the United States are spooking investors, and more than 40% of them sense trouble ahead.
All eyes are locked on this experiment. Whatever happens, Kraken’s making it clear they’re trying to be the top global exchange.
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Key Takeaways
- A US Bitcoin Reserve is on its way. Michael Saylor, MicroStrategy’s fierce Bitcoin advocate, wants the U.S. to own the crypto game.
- Founder and former CEO Jesse Powell planted the seed back in 2021, and now the timeline begins to solidify.
- Whatever happens, Kraken’s making it clear they’re trying to be the top global exchange.
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