Kraken said it has no plans to rush into a US public listing, stressing that its current cash and risk controls give it room to wait.
According to co-CEO Arjun Sethi, the exchange is “financially sound” and holds enough capital on its balance sheet as a private company.
“We have enough capital on our balance sheet as a private company,” Sethi said. “We don’t race to the door as quickly as possible.”
Sethi told Yahoo Finance that Kraken won’t rush things up just because peers are going public. Reports have disclosed that other crypto firms have seized the moment; still, Kraken’s leaders say they prefer to set their own timetable.
Grayscale filed to debut in the US as others, including Gemini, Bullish and eToro, completed listings. Custody firm BitGo also filed to go public in September.
Sethi argued that early movers are educating investors on margins and business models. He said seeing public filings helps buyers and sellers better judge which revenue streams matter.
Crypto-related stocks also weakened. Cipher Mining sank 14%, Riot Platforms and Hut 8 each fell 13%, and MARA Holdings and Bitmine Immersion slipped over 10%.
Sethi did not sound alarmed by the drop, saying the long-term reasons people buy Bitcoin or Ethereum matter more than brief moves.
He emphasized looking at the “thesis” behind assets rather than chasing daily swings. That stance was presented as part of a wider company approach that favors steady risk management over reactive moves.
Based on reports, the friendlier regulatory posture from US President Donald Trump’s administration and improving market conditions have prompted some firms to go public.
Featured image from Unsplash, chart from TradingView
