Kraken Files Confidential S-1 for U.S. IPO at $20 Billion Valuation

Kraken has confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission, marking its formal entry into the public listing process. The California-based cryptocurrency exchange disclosed the filing days after revealing a $20 billion valuation following $800 million in recent funding rounds. The confidential submission does not disclose timing, share count, or pricing details for the potential offering.