Kraken CEO: The company is not in a hurry to go public in the United States.
TL;DR
Kraken's CEO states the company is not rushing to go public in the U.S., citing strong finances and risk management. He remains unfazed by Bitcoin's recent price drop, emphasizing long-term investment logic over short-term market fluctuations.
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On November 14, Cointelegraph reported that despite the market downturn, crypto trading platform Kraken is not in a hurry to list in the United States, even though a favorable policy environment and improved market conditions have prompted other crypto companies to pursue initial public offerings (IPOs).
"Our finances are sound, and we know how to manage risk in our operations," Kraken co-CEO Arjun Sethi said in an interview on Thursday. He added, "As a private company, we have sufficient capital on our balance sheet and are not in a rush to go public."
Sethi is not worried about the recent drop in Bitcoin. Over the past day, Bitcoin fell more than 4%, approaching $97,000, and is down more than 22% from its high of over $126,000 in early October. Sethi stated, "If you only look at the overall trend of the crypto market, the curves for Bitcoin and various asset classes are constantly changing. More importantly, it's about the investment logic behind buying Bitcoin, Ethereum, or any asset, rather than holding dollars or other stocks."