Favorable U.S. crypto regulations and renewed market interest drive Kraken, Gemini, and Bullish to pursue IPOs, with Coinbase’s 2021 evolution serving as a benchmark for diversified revenue models.
Amid favorable U.S. crypto regulations and revived public market interest, Kraken, Gemini, and Bullish are planning IPOs to transform into full-stack digital asset service providers. The report benchmarks Coinbase’s 2021 IPO, highlighting its shift from a fee-driven model to diversified revenue streams, and provides a comparative analysis of trading volumes, valuations, and market shares among key exchanges, while noting concerns over potentially inflated trading figures.