Kraken rises to a 20 billion valuation after 800 million funding round

Kraken has closed an $800 million funding round and is now valued at $20 billion. The round took place in two tranches, including a strategic $200 million investment deal with Citadel Securities, one of the world's largest market makers. This information comes from a press release obtained by BTC-ECHO.
Through the partnership with Citadel, Kraken gains access to expertise in liquidity, risk management, and market structure. This is intended to improve the operational strength and market position of the US exchange in the long term.
Other investors in the first tranche included Jane Street, DRW Venture Capital, HSG and Tribe Capital, supplemented by a larger stake from the family office of Kraken co-CEO Arjun Sethi.
With the new capital, Kraken plans a global expansion, particularly in Latin America, Asia-Pacific, Europe, the Middle East, and Africa. At the same time, the company intends to expand its regulated offerings and product range, including through targeted acquisitions.
Rumors about a possible Kraken IPO are flaring up again, but Co-CEO Arjun Sethi is tempering expectations: The company is “financially healthy”, well capitalized and currently has no pressure to go public, even though the regulatory environment in the US has become significantly more favorable.

Recommended video: Will Bitcoin fall to $80,000 now? Last chance for the bulls!

No results