Popular cryptocurrency exchange Kraken is reportedly mulling over a private offering, in which it would sell some of its shares to some of its most prominent clients, with the minimum investment being of $100,000.

According to a report published by Finance Magnates, Kraken has been sending out emails to some of its clients inviting them to fill out a survey before giving them additional information. In the emails, Kraken makes it clear it isn’t needing financing, but sees acquisition opportunities given its “significant reserves” and the crypto bear market.

Kraken is reportedly listing its shares at a $4 billion valuation. The email reportedly states:

The transaction process will be done by a 3rd party service, who will run accredited investor checks, facilitate the execution of transaction documents, and the funding of your investment.

More details about the investment opportunity are set to be provided to the clients that fill out the survey until December 16. The company is seemingly cheaper than others in the space, but as Finance Magnates points out this may be because its service was filled with glitches during last year’s bull run.

Reports have suggested suspicious Tether (USDT) trading has been observed on Kraken, as some critics suggest the stablecoin was used to pump bitcoin’s price last year, to help it reach its near $20,000 all-time high.

Earlier this year the company was affected by rumors of a security breach and staff layoffs. According to Bloomberg, the company ended up confirming it consolidated its staff, but denied hackers accessed its wallets.

Recently, as CryptoGlobe covered, a lawsuit filed by United American Corp, a Florida-based telecommunications and IT firm, against Kraken, Bitcoin.com, and Bitmain, claims these have “colluded” to manipulate the BCH network.  Kraken, as covered, has claimed Bitcoin SV is an “extremely high risk” investment.

Kraken has in the past left New York over the state’s controversial ‘BitLicense’. Jessie Powell, Kraken’s CEO, fired back at New York’ Attorney General after its regulators kept going after it this year.