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According to a new report by Bloomberg, the cryptocurrency exchange Kraken is planning to go public early next year.

The exchange, which was founded in 2011 by former philosophy professor and Trump donor, is said to be planning an initial public offering (IPO) in the first quarter of 2024.

Kraken is one of the oldest and largest cryptocurrency exchanges in the world. It offers a wide range of cryptocurrencies and products, including spot and futures trading, lending, and custodial services. Kraken is also a registered futures commission merchant (FCM) with the U.S. Commodities Futures Trading Commission (CFTC), which allows it to offer futures and derivatives products to institutional clients in the United States.

Kraken has been expanding rapidly in recent years as the cryptocurrency industry has grown. In 2022, Kraken closed a $65 million Series C funding round led by venture capital firm Union Square Ventures.

The exchange has also been hiring aggressively and now employs more than 800 people across its offices in the United States, Canada, and the United Kingdom.

Kraken’s IPO would come at a time when the cryptocurrency industry is facing increasing scrutiny from regulators around the world. In the United States, the Securities and Exchange Commission (SEC) has been cracking down on cryptocurrency offerings, and several exchanges have been sued by the agency for selling unregistered securities.

However, several crypto firms have managed to complete IPOs in recent years. In 2021, cryptocurrency exchange Coinbase went public on the Nasdaq Stock Market in a direct listing.

The move made Coinbase the largest cryptocurrency company to go public in the U.S. and marked a milestone for the industry as it seeks to gain mainstream acceptance. Several other crypto firms are rumored to be considering IPOs in the coming year.