Jesse Powell is having second thoughts about unleashing the Kraken directly on public markets, Fortune reports.
Powell is CEO of Kraken, one of the most richly valued cryptocurrency startups. He previously said that his exchange is considering a public debut via direct listing in 2022 as the soaring price of Bitcoin and its ilk led to record trading volumes over the course of the pandemic.
But Powell is reconsidering that approach. After seeing the tumultuous performance of rival crypto trading platform, Coinbase, after it went public via direct listing in April, Powell told Fortune’s Balancing The Ledger show that he is taking a harder look at a more traditional IPO. Read more.
