IPO Plans and Market Moves: Kraken, Gemini, Ripple, and Circle in Focus
The crypto industry continues to evolve rapidly, with several major players eyeing public listings to bolster growth and market presence. As of February 2025, significant developments on IPO plans and capital raising efforts from Kraken, Gemini, Ripple, and Circle are capturing investor attention.
Kraken, a leading cryptocurrency exchange, had initially delayed its IPO plans but is considering reviving them following Coinbase's successful public offering in 2021. The company has raised approximately $27 million in primary capital by January 2024 and is contemplating a pre-IPO funding round targeting $100 million to support its growth.
Gemini, founded by the Winklevoss twins, intended to go public in 2021 but postponed due to challenging market conditions. Recent reports confirm that Gemini has resumed discussions about an IPO and is engaged with financial advisers to prepare for a potential public offering.
Ripple faces unique challenges as it contends with ongoing litigation with the U.S. Securities and Exchange Commission (SEC) regarding the classification of its XRP token. Despite a favorable ruling from a judge indicating that XRP is not a security, the SEC has appealed the decision. Ripple’s CEO Brad Garlinghouse suggested that an IPO might be feasible once the legal uncertainties are resolved.
In contrast, Circle has taken an active approach by filing for an IPO in January 2024, following an unsuccessful attempt in 2022. The company has also relocated its headquarters to New York to better position itself for its upcoming public offering.
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Staying informed about these IPO movements helps investors gauge market momentum and identify opportunities. Whether Kraken, Gemini, Ripple, or Circle make their public debut soon, platforms like Bitlet.app empower crypto enthusiasts to engage with the market smarter and more flexibly.
