Kraken rethinks direct listing plan following Coinbase’s lackluster performance
Jesse Powell is rethinking Kraken’s plan to go public which is set for late 2022, following the uninspiring performance of Coinbase stock (COIN) since its launch on April 14.
Speaking with Fortune on June 11, Powell stated that in light of the performance on Coinbase’s direct public offering, the firm is now considering an initial public offering (IPO) more “seriously now,” as the firm is looking to avoid potential issues a direct listing presents:
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