Kraken may soon be listed, industry is following related opportunities

Recently, there have been reports in the market that a well-known cryptocurrency trading platform is seeking approximately $500 million in financing, with a valuation of $15 billion, attracting widespread attention in the industry. This news comes at a time when the regulatory environment in the United States is gradually improving: in March of this year, the Securities and Exchange Commission withdrew its allegations of securities violations against the platform, and last week, media reports indicated that the Federal Bureau of Investigation has also concluded its investigation into the platform's founder. Meanwhile, the platform's official social media has frequently hinted at potential listing plans, further stimulating market imagination.

It is worth noting that after a certain cryptocurrency-related company successfully went public in June this year, its stock price saw a peak increase of up to 10 times, providing a strong contrast to market expectations. If the platform can successfully go public, it may trigger another wave of heightened market sentiment. Industry insiders are closely watching which related assets might become the "speculation pioneers" in this potential upsurge.

Retail investors can participate in pre-IPO investments through private equity platforms.

As some top tech companies remain privatized for a long time, many original employees and early investors hope to cash out their equity before the company goes public. Some private equity trading platforms just connect those "wanting to sell" with investors "wanting to buy in advance." Now, as expectations for the listing of this crypto trading platform heat up, if its employees or institutions start selling equity, these private equity trading platforms may become an indirect channel for retail investors to participate.

On these platforms, investors can usually purchase shares of unlisted companies in two ways: first, through direct transactions, which involve negotiating prices with holders willing to sell equity, with the platform assisting in completing the relevant processes; second, by trading through a special purpose entity (SPV), where the platform sets up an SPV to pool buyer funds and collectively purchase equity in the target company, with investors holding shares in the SPV. This method is more suitable for investors looking to enter quickly, with the potential to gain liquidity once the company actually goes public.

Currently, the equity price of this cryptocurrency trading platform on a certain private equity platform is $36.13, with an increase of up to 200% within a year, reflecting the market's enthusiasm for its IPO expectations. If the platform can successfully go public with a valuation of $15 billion, current entrants may receive more than 50% excess returns.

In addition, the tokenization of private equity is also bringing new investment opportunities to retail investors. Some platforms have supported tokenized equity in tech companies like OpenAI and SpaceX, and whether this cryptocurrency trading platform will support it in the future is also worth following.

Layer 2 Network Ink Becomes the Core of a New Narrative

After a major cryptocurrency exchange launched its Layer 2 network, this crypto trading platform has officially entered the fray, firing the first shot in its Layer 2 strategy with the Ink network. Ink is a Layer 2 blockchain built on the Ethereum OP Stack, focusing on high throughput, low latency, and native compatibility with the Ethereum Virtual Machine, aiming to become the central hub for DeFi on the Superchain. This network is spearheaded by the crypto trading platform, and its native token $INK will be issued by the subsidiary Ink Foundation and distributed through the platform's airdrop program to eligible users and ecosystem participants.

On June 17, the Ink Foundation announced that the total supply of $INK will be permanently capped at 1 billion tokens, with no additional issuance or governance rights, and will only be used for ecological incentives and user-level applications, positioning it closer to a "fuel" attribute. The first clear application scenario is the native liquidity protocol driven by Aave, which is a key part of Ink's push for an on-chain capital stack.

The executives of the cryptocurrency trading platform stated that Ink's mission is to deeply integrate "production-grade on-chain systems" into the platform's product ecosystem, driving the strategic migration of centralized platforms to on-chain financial systems. The board of the Ink Foundation referred to this as "a pivotal moment," believing that the launch of Ink signifies the beginning of the merger between CeFi and DeFi.

With the official launch of the mainnet, Ink's ecosystem is beginning to take shape. The platform has opened the memecoin launch tool Inkypump, and the first mascot token $ANITA once surged to a market cap of 8 million USD. Although the issuance details of $INK have not yet been announced, driven by successful cases of other Layer 2 projects, the market has strong expectations for Ink's potential.

Referencing the rapid growth in ecosystem activity, TVL, and the number of projects in other Layer 2 networks, as well as the performance of the ecological tokens built around them, Ink, which has the direct endorsement of the team behind this crypto trading platform and will undoubtedly bring its own traffic and resource tilt, possesses the potential to become the next popular Layer 2 mainline. It is expected that once $INK starts circulating and opens for trading in the future, it will inevitably become one of the "orthodox" representatives under the CeFi hype narrative. For investors looking to position themselves in advance for the potential IPO of this crypto trading platform and the next round of Layer 2 hotspots, Ink and its ecological targets are worth paying close attention to.

Summary

In addition to cryptocurrency trading and Layer 2 network construction, this cryptocurrency trading platform has also been actively expanding its broader financial landscape. In 2025, the platform acquired a leading retail futures trading platform for $1.5 billion, obtaining the qualification of a futures commission merchant and officially entering the derivatives market regulated by the CFTC, establishing a key channel between CeFi and TradFi. At the same time, the platform launched a payment application that supports real-time reward transfers for over 300 types of cryptocurrency and fiat assets, with plans to expand into lending and credit card services in the future, creating a comprehensive cryptocurrency payment experience.

This series of arrangements not only lays the foundation for building a super financial platform for the company but is also seen as an important prelude to its long-anticipated IPO plan. With the expansion of product lines, revenue growth, and the continuous improvement of the regulatory environment, this cryptocurrency trading platform is increasingly accelerating its pace towards a formal listing. Industry insiders will closely follow its subsequent developments and related investment opportunities.