Cryptocurrency exchange Kraken plans to raise money through $4 Billion crowdfund

US-based cryptocurrency exchange, Kraken, is on a crowdfunding drive and is offering a few “select” investors a chance to buy shares of the company at a discounted price.

Kraken is valuing itself at $4 billion (half of Coinbase) and the selected “investors” can take a part in the crowdfund with a minimum investment of $100,000.

Jesse Powell, CEO of Kraken, said in a statement to Coindesk,

“There is presently a limited time opportunity available to a very small, select number of clients to purchase Kraken’s shares at a $4 billion valuation with a $100,000 minimum investment. The opportunity is only available to selected clients. The exchange is not looking for a public offering. The transaction process will be done by a 3rd party service, who will run accredited investor checks, facilitate the execution of transaction documents, and the funding of your investment,”

Those involved have until Dec. 16 to signal their interest and will undergo vetting for eligibility prior to participating. Similar to Coinbase, Kraken too wouldn’t be going for a public offering this time.

Kraken is currently under investigation for being part of the “Bitcoin Cash” lawsuit by the rivals for Bitcoin Cash price manipulation. CEO of Bitcoin.com, Roger Ver, and CEO of Bitmain, Jihan Wu, are also under investigation.

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