Kraken co-CEO Arjun Sethi says the crypto exchange has confidentially filed for a US IPO; it was valued at $13.3B this month, down from a $20B peak in late 2025 (Cory Schouten/Semafor)

Cory Schouten / Semafor : Kraken co-CEO Arjun Sethi says the crypto exchange has confidentially filed for a US IPO; it was valued at $13.3B this month, down from a $20B peak in late 2025 —  The US crypto exchange Kraken has confidentially filed for an initial public offering, co-CEO Arjun Sethi said Tuesday …

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