Crypto exchange Kraken is on a fundraising drive, offering “select” investors a chance to purchase stakes in the firm.
CEO Jesse Powell confirmed to CoinDesk that his company is looking to tap a small number of clients for a fundraising round valuing the firm at $4 billion.
“There is presently a limited time opportunity available to a very small, select number of clients to purchase Kraken shares” at a $4 billion valuation with a $100,000 minimum, he told CoinDesk via email.
The general public will not have access to these shares, and the exchange is not looking to make a public offering.
The company has not so far determined how much it will look to raise, and any final number will depend on the amount of interest, Powell said. He added that “the amount of shares available is relatively limited,” and the exchange will close its offer on Dec. 16.
An email sent to investors describes the move as “presenting our most valued clients with the opportunity to become equity holders in the company,” going on to say:
“We’re profitable and sitting on significant reserves so fundraising is not a necessity, however, further aligning interests with our top clients while building a war chest for acquisitions in the bear market presents a win-win opportunity.”
Asked what types of acquisitions Kraken might make, Powell pointed at the exchange’s previous purchases of Coinsetter, CAVirtex, CleverCoin and Cryptowatch.
“We’d be looking for more along those lines, anything that would have strong synergies with our existing product/service offerings, and with great teams,” he explained.
While he could not speak to any specific acquisitions at press time, he said the exchange’s venture arm “has been very active in the last year,” and may make some announcements at the beginning of 2019.
The exchange will use the services of an undisclosed third party to verify that interested parties are accredited investors in the U.S., as well as oversee the actual transactions.
Kraken joins its fellow U.S. exchange Coinbase in raising funds during the bear market. The latter raised $300 million earlier this year, with an $8 billion valuation.
Like Kraken, Coinbase said it was building a “war chest,” with vice president of corporate and business development Emilie Choi saying the funds would be saved for a “rainy day.” Unlike Kraken, though, Coinbase is not looking at any specific acquisitions or other moves at this time, Choi said.
Jesse Powell image via CoinDesk Consensus archive
Author: Nikhilesh De
Source link
I was wondering if you ever thought of changing the layout of your website?
Its very well written; I love what youve got to say.
But maybe you could a little more in the way of content
so people could connect with it better. Youve got an awful lot of text for only having one or two
images. Maybe you could space it out better?
I think the admin of this web site is genuinely working hard for his website, as here every data is quality based material.
Hi there! Do you know if they make any plugins to assist with SEO?
I’m trying to get my blog to rank for some targeted keywords but I’m not seeing
very good success. If you know of any please share.
Thanks!
Hello, Neat post. There’s a problem along with your website
in web explorer, would check this? IE nonetheless is the
marketplace leader and a huge component to other
folks will pass over your great writing because of
this problem.
Great goods from you, man. I have understand your stuff
previous to and you’re just extremely wonderful. I
actually like what you’ve acquired here, really like what you’re stating and the
way in which you say it. You make it enjoyable and you still take care of to keep it sensible.
I can not wait to read far more from you. This is
actually a wonderful web site.
When visiting blogs, i usually discover a very good content like yours
hello there and thank you for your information – I have definitely picked up something new from
right here. I did however expertise a few technical points using this web site,
as I experienced to reload the web site lots of times previous to
I could get it to load properly. I had been wondering if your web hosting is OK?
Not that I’m complaining, but slow loading instances times will
very frequently affect your placement in google and could damage your quality score if advertising and marketing with Adwords.
Well I’m adding this RSS to my e-mail and can look out for much more
of your respective exciting content. Ensure that you update
this again very soon.
I used to be recommended this blog by means of my cousin.
I’m no longer sure whether this publish is written via him as no one else realize such designated approximately my problem.
You’re incredible! Thank you!
When visiting blogs, i usually discover a very good content like yours
Its like you read my mind! You seem to know a lot about this, like you wrote the book in it or something.
I think that you could do with a few pics to drive the message home a
bit, but other than that, this is fantastic blog. A fantastic read.
I’ll definitely be back.
My brother suggested I might like this blog. He was totally right.
This post truly made my day. You cann’t imagine simply how much time I had spent
for this info! Thanks!
Do you have any video of that? I’d love to find out some additional information.
I think that what you said made a ton of sense.
But, what about this? suppose you were to write a killer
headline? I mean, I don’t wish to tell you how to run your blog, however suppose you added a headline to maybe get
folk’s attention? I mean Kraken Is Seeking ‘War Chest’ Investment at a
$4 Billion Valuation – TradingBTC.com is a little boring.
You could glance at Yahoo’s front page and note how they create post titles to get
viewers interested. You might add a related video or a related picture or two to grab
readers excited about everything’ve written. Just my opinion, it could make
your posts a little livelier. natalielise pof
Spot on with this write-up, I really believe this web site needs a great deal
more attention. I’ll probably be back again to read more, thanks for
the advice!
I read this post completely about the difference of most recent and earlier technologies,
it’s amazing article.
My brother recommended I may like this blog. He was entirely right.
This publish actually made my day. You cann’t believe simply
how a lot time I had spent for this info! Thank you!
… [Trackback]
[…] Find More on on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Find More here to that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Find More on on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Find More Information here on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Info on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Find More Info here on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Find More on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Info to that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Information to that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Here you can find 75983 more Info to that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Find More Information here on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Find More to that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Find More Information here on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Info on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]
… [Trackback]
[…] Find More here on that Topic: tradingbtc.com/2018/12/12/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation/ […]