Cryptocurrency exchange Kraken is advancing toward a public listing targeting a valuation surpassing $15 billion, with plans to raise $100 million by year-end. This major corporate milestone has intensified scrutiny of Ripple-associated token XRP, driven by persistent regulatory uncertainties emphasized by Kraken co-founder Jesse Powell.
Powell has repeatedly highlighted the legal ambiguities surrounding XRP, particularly stemming from its historical ties to Ripple Labs. These regulatory gray areas create what he terms ‘asymmetrical risk’ for exchanges listing the asset, directly influencing Kraken’s earlier decision to suspend XRP trading for U.S. users.
The unresolved status of XRP continues to represent a potential liability for Kraken, given that a definitive classification of the token as a security could trigger legal repercussions. This regulatory overhang critically informs the exchange’s operational decisions and strategic posture leading up to its public offering.
Despite these challenges, Kraken maintains a formidable market presence as a top-tier digital asset platform. Current metrics indicate daily trading volumes exceeding $1.37 billion services across more than 1,100 trading pairs.