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    "headline": "Kraken Crypto Exchange Delays IPO to Second Quarter 2027",
    "dek": "Kraken crypto exchange delays its initial public offering to the second quarter of 2027.",
    "prose": "Kraken delayed its initial public offering to at least April 2027. [^1]\n\nOn September 1, 2026, Payward agreed to tokenize the 100 largest London-listed companies into tokens called xStocks. [^2] CoinDesk reported in March 2026 that Payward had put the IPO on hold and was unlikely to proceed, a delay Reuters could not independently verify. [^3] In November 2025, Payward submitted a draft IPO document to the SEC on Form S-1, stating an offering was expected after SEC review. [^4]\n\nKraken CEO Jesse Powell told CNBC in April 2021 that the company was looking to go public sometime in the next year. [^5] Payward counts $40 billion in xStocks volume since June 2025 and has more than 200,000 holders. [^6] Payward filed a confidential draft registration in November 2025 but paused the process in March 2026. [^7]",
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