Kraken secures $800 million as valuation climbs to $20 billion
After crypto exchange Kraken announced new investments of $800 million on Tuesday, its valuation ahead of its IPO has reached $20 billion.
Kraken said it raised $800 million in two tranches. The initial tranche was secured from institutional investors, including Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital, along with significant contributions from the family office of Kraken co-CEO Arjun Sethi.
In addition, an agreement was reached for a further $200 million in strategic investments from Citadel Securities, bringing Kraken’s total valuation to $20 billion.
“We are pleased to support Kraken’s continued growth as the company helps unlock a new chapter of digital innovation in global markets. Citadel Securities’ collaboration with Kraken will include differentiated liquidity provision, risk-management expertise, and market-structure insights,” said Citadel President Jim Esposito in a press release.
Negotiations succeeded
In September, Bloomberg reported that Kraken had been in talks to raise “$200 million to $300 million from a strategic investor.” Now, ahead of its IPO scheduled for early next year, the exchange is expanding its global operations primarily through acquisitions of smaller platforms.
Recently, the company acquired Small Exchange for $100 million to launch a derivatives-trading platform in the U.S.According to The Block, Kraken’s trading volume in October reached around $40.5 billion. The company also reported $472 million in revenue for Q1 2025, up 19% year-over-year.
“The caliber of our new investors reflects both the scale of emerging opportunities and the depth of alignment in building this infrastructure,” said Tribe Capital co-founder and Kraken co-CEO Arjun Sethi.
He added that the latest investments reflect long-term confidence in Kraken’s mission to build a reliable, regulated infrastructure for an open financial system.
As we wrote, Kraken Exchange launches zero-fee trading on Kraken+
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