Kraken Halts Public Listing Plans Amid Crypto Market Downturn

Kraken has put its initial public offering (IPO) on hold due to a decline in cryptocurrency markets. The exchange's parent company, Payward, filed confidentially with the US Securities and Exchange Commission (SEC) last November, but now intends to revisit its IPO plans once market conditions improve.

The move follows a sharp downturn in crypto markets since Bitcoin hit a record high in October. Lower asset prices and weaker trading volumes have weighed on valuations, making firms more cautious about public listings.