Kraken, the San Francisco-based cryptocurrency exchange, is going public by selling a 0.255% stake in the company to their customers. The well-established crypto exchange hopes to raise $10 million to bring the company’s evaluation up to almost $4 billion.
The exchange has partnered with online investment platform BankToTheFuture to raise this capital from accredited investors who must make a minimum purchase of $1,000 to participate.
Thus far, Kraken has raised more than $7.4 million from 470 investors and have another 28 days to raise the remaining funds to reach $10 million.
Kraken made a similar offer to select investors to purchase a stake in their company last year. However, unlike this year’s low purchase minimum of $1,000, last year’s minimum was $100,000 and brought the exchange to a valuation of nearly $4 billion.
In comparison to Coinbase – another leading US-based crypto exchange – they are valued at $8 billion.
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