Kraken co-CEO Arjun Sethi said Tuesday that the crypto exchange has confidentially filed for a U.S. initial public offering, confirming CNBC’s previous reporting on the matter.

Sethi’s comments were made at the Semafor World Economy conference in Washington, D.C., the website reported. The executive said Kraken strives to make advanced trading strategies typically reserved for professional investors available to individual investors, according to Semafor.

Kraken did not respond to a CNBC request for comment.

The crypto exchange has reportedly lost more than $6 billion in its valuation. Earlier on Tuesday Bloomberg reported that Deutsche…