Kraken. Coinbase. Ripple.

Kraken is in talks to raise new capital around $20B. It remains one of the largest private U.S. exchanges, scaling for its next chapter.

Coinbase went public on Apr 14, 2021 (ref $250, opened $381, closed $328 ~ $86B). Today it's near $80B. It is the listed U.S. exchange and custodian for many spot crypto ETFs, anchoring institutional access.

Ripple says an IPO is on the table after litigation progress. In the U.S. it drives enterprise adoption with payments, a dollar stablecoin, and XRPL features like Credentials and Deep Freeze built for compliance.

Together they show the spectrum of U.S. crypto,one public, one private raising for growth, and one preparing for public markets.