Kraken’s Dan Held said the crypto exchange is still going public, despite a recent tumble in the price of bitcoin.

“Everything seems to still be on track for a direct listing sometime in 2022, but I don't have any idea of what timing that might be,” he said during an interview at CoinDesk’s Consensus 2021.

The answer came in response to a question about the crypto market’s recent sag. When Coinbase went public through a direct listing in April, bitcoin was changing hands north of $60,000; the leading crypto asset is struggling to break $40,000 as of press time.

“I would push back and say that the crypto markets are looking great right now,” said Held. “If you look at Kraken volume, alongside other exchange volume, we hit all-time highs a few weeks ago. Kraken had an $8-billion volume day, that’s an incredible amount of money traded.”

Kraken has said since at least March 2021 it’s taking the public listing route to Wall Street. CEO Jesse Powell reiterated those plans in an interview with CNBC last month.