Kraken‘s co-CEO Arjun Sethi indicated on Tuesday that the cryptocurrency exchange’s confidential initial public offering (IPO) filing process was still active, following reports that the plan had been paused.
In November, Kraken confidentially filed for an IPO following an $800 million funding round that boosted its valuation to $20 billion. The company had submitted a draft S-1 to the SEC, though details like share count and pricing were still undecided. However, a March report by CoinDesk suggested that Kraken had paused its IPO plans and was unlikely to proceed until market conditions improve.
At the Semafor World Economy 2026 conference on Tuesday, when asked about the public filing, Sethi confirmed the company has a confidential filing but did not comment on the reported pause.
Sethi did not disclose a timeline, pricing range, or valuation for the offering, but indicated that the confidential filing process is still active.
“Is that news?” Semafor reporter Rohan Goswami asked, to which Sethi responded, “I believe that’s news.”