Kraken IPO Signals New Era for Crypto as Business Heats Up

Kraken, a leading crypto exchange, plans to list on a US stock exchange as early as Q1 2026, joining Coinbase, Gemini, and Bullish. This move suggests that while token prices are cooling off, the business side of crypto is heating up again, with $8.6 billion in crypto M&A deals recorded in 2025. Kraken is reportedly finalizing a $500 million pre-IPO round, targeting a $15 billion valuation, indicating Wall Street's growing interest in crypto.