American cryptocurrency exchange Kraken has successfully raised $800 million in funding, which includes a significant $200 million investment from Citadel Securities, led by Ken Griffin. This funding round has positioned Kraken with a valuation of approximately $20 billion.
The new capital was secured in two parts, with key backing from notable institutional investors such as Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital, alongside support from Kraken Co-CEO Arjun Sethi’s family office. Originally, there were reports of a planned fundraising effort aiming for $500 million at a $15 billion valuation, but the actual outcome exceeded expectations.
Sethi expressed that this investment reflects a deep conviction in Kraken’s mission to create a regulated and trustworthy financial infrastructure. The firm aims to develop a platform where users can trade a diverse range of assets seamlessly.
Historically, Kraken has relied on conventional funding methods, accumulating only $27 million in primary capital prior to this recent round. The exchange reported earning $1.5 billion in revenue for 2024, surpassing this figure during the initial three quarters of 2025.
The company intends to utilize the new funding to expand its global reach into markets across Latin America, Asia Pacific, and EMEA. This will also enable Kraken to enhance its product offerings beyond cryptocurrencies, introducing additional asset types, advanced trading tools, expanded payment services, and improved institutional services.
Kraken has been contemplating an initial public offering (IPO), with reports suggesting that the company is targeting early 2026 for this public market debut.
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