Investment fund RIT Capital Partners became a co-owner of the Kraken crypto exchange. This is stated in a note sent to investors.
The amount invested by the fund is not indicated in the document.
RIT Capital Partners’ interest in the platform stems from Kraken’s plans to go public with a direct listing of shares in 2022.
The note also states that Kraken’s rival, Coinbase, earned a record $1.8B in the Q1 of 2021, more than its full-year 2020 earnings.
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Founded by Lord Jacob Rothschild, RIT Capital Partners has a market capitalization of $ 5.3 billion.
Recall that in early April, plans to enter the stock market for Kraken were confirmed by the co-founder and CEO of the exchange Jesse Powell.
He also stated that the platform is in talks with investors for a new round of funding. After it, the valuation of the exchange may grow to $ 20 billion.