TechFlow News, March 18: According to CoinDesk, cryptocurrency exchange Kraken has suspended its initial public offering (IPO) plan and may consider relaunching it once market conditions improve.
According to sources familiar with the matter, Kraken’s parent company, Payward, confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) on November 19 last year. The suspension stems primarily from the sustained downturn in the cryptocurrency market since Bitcoin hit an all-time high in October last year, resulting in shrinking trading volumes and increasingly cautious investor sentiment.
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