Kraken has confidentially filed for an initial public offering, co-CEO Arjun
Sethi said. The U.S.-based exchange was valued at $13.3 billion in an April
funding round, down from a $20 billion peak in late 2025. Sethi said Kraken aims
to provide retail clients access to sophisticated trading tools used by firms
like Citadel, Jane Street and JPMorgan. He added concerns about AI severely
disrupting SaaS companies are overstated.