Forex and Crypto News

Kraken wants to attract $4 billion to survive the "bearish winter"

15:43 12 December /2018

The US Crypto Exchange Kraken sent its VIP customers an offer to participate in a private listing of the company's shares. Kraken plans to raise $4billion. The exchange needs money in order to successfully survive the bear market and make new acquisitions.

The letter states that the exchange doesn’t need a new capital, but it plans to replenish the existing “substantial reserves” in order to successfully survive the “bearish” cryptocurrency market and make new acquisition transactions.

The trading platform wants to receive $4 billion as a result of a private listing, the minimum investment level is $100 thousand.

“The transaction process will be carried out by a third-party service that will carry out an inspection of accredited investors, as well as carry out the necessary document flow,” the letter says.

Kraken will evaluate the opportunity for participation of each investor who wants to participate in the offer of shares. Applications are accepted until December 16. The administration of the exchange promised to provide details in the near future.
It’s worth to note that, еhe mining equipment manufacturer Bitfury and Coinbase have already stated they want to hold a public offering.

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