The Rothschild Foundation Bought A Stake In The Kraken Exchange

Investment fund RIT Capital Partners (formerly Rothschild Investment Trust) acquired a stake in the Kraken cryptocurrency exchange. This became known from a note sent to investors. The size of the share and the amount invested by the fund are not mentioned in the document, writes RBC Crypto.

RIT Capital Partners’ interest in Kraken is related to the plans of the crypto exchange to become a public company and conduct a direct listing of shares in 2022. The note to investors indicated that one of Kraken’s main competitors, the Coinbase crypto exchange, earned a record $ 1.8 billion in the first quarter of 2021, which is more than in the entire 2020.

The head of the Kraken crypto exchange Jesse Powell previously said that the company could go public and conduct a direct listing of shares in the second half of 2021. Also, according to him, the platform may change jurisdiction and leave the United States due to the tightening of regulation of the cryptocurrency sector. The management of the company is considering the UAE, the UK and Japan as an alternative.

Kraken is one of the largest cryptocurrency exchanges in the world, ranking fourth in terms of trading volume. The site, founded in 2011, has over 6 million customers.

RIT Capital Partners is a British investment fund founded by Lord Jacob Rothschild. Its market capitalization is $ 5.3 billion.

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