If many were wondering what the next space companies would be crypto to follow Coinbase on the stock exchange, the answer came by return of post. It will indeed be Creak to propose its IPO soon (Initial Public Offering), as its CEO stated, Jesse powell, during a detailed interview given to Fox Business.
The Jesse Powell interview
In the course of the same interview, the number one of the exchange platform also stated that the growing obstacles proposed by an evolving legislation could slow down the company's progress.
The reference is to the US regulators, who have proved to be the most resolute in recent months in putting a spoke in the wheel of companies dedicated to financial innovation. Even Kraken, in fact, has found herself several times having to talk, often in a not exactly relaxed way, with the SEC and CFDC. Moreover, the same agencies have requested on several occasions the banning of products which are instead allowed to companies in the sector which operate outside the United States. A problem of no small importance for Kraken.
Kraken could leave US territory
In the light of ever growing hostility, Kraken's leaders are seriously considering leaving the United States. Also to be able to fight on equal terms with increasingly qualified competition. A problem that has also arisen Ripple Labs, another company on a collision course with Securities and Exchange Commission is currently engaged in a lawsuit for the sale of unauthorized securities starting in 2014.
As a result of these pressures, Kraken is therefore thinking of leaving the United States for more hospitable destinations. As the Japan, UK or UAE, realities that boast stratified regulations, but still favorable to digital assets.
Kraken's fundraising continues with great aggression
Meanwhile, Kraken continues his fundraising campaign, with extremely aggressive ways. Which, according to leaked news, could allow him to double the ten billion it currently has.
If previously the hypothesis of creating a special purpose acquisition company (SPAC) had been considered, the same was then quashed in favor of the IPO, the same path chosen by Coinbase. This is a method that provides for the acquisition of a company already listed by one that intends to be listed in turn. A method then discarded as precisely the large size of Kraken does not recommend it, as revealed by an internal source a The block. While the direct listing, on the model of the competing exchange, allows to bypass some costs related to the traditional IPO.
The hostility of the United States towards the crypto world
The hostility of a part of politics and the lack of a national strategy on cryptocurrency is emerging as a very serious problem in the United States. Especially when compared with the greater availability of other countries towards virtual assets.
Se Ripple is the emblem in this sense, the lawsuit filed by the SEC against LBRY. What a second Mati Greenspan, the founder of Quantum Economics, would represent a mine placed at the foundations of the entire crypto space. So much so that it has prompted him to publish a newsletter in which he asks the community to cohort to prevent the supervisory authorities from destroying cryptocurrencies.