Kraken Raises $800 Million at $20B Valuation Ahead of Possible 2026 IPO
As it gets ready for a possible Initial Public Offering (IPO) in 2026 cryptocurrency exchange Kraken has raised $800 million...
Quick overview
- Kraken has raised $800 million in funding, valuing the cryptocurrency exchange at $20 billion as it prepares for a potential IPO in 2026.
- Major institutional investors, including Citadel Securities and Jane Street, contributed significantly to the funding, which will support Kraken's global expansion and product offerings.
- The exchange plans to enter new markets in Latin America, Pacific Asia, and EMEA, while also enhancing its services for institutional investors.
- Kraken's recent funding marks a strategic shift, as it aims to leverage improved U.S. regulatory conditions to facilitate its IPO plans.
As it gets ready for a possible Initial Public Offering (IPO) in 2026 cryptocurrency exchange Kraken has raised $800 million in fresh capital valuing the business at $20 billion. The funds which were raised in two different waves will be used to support future acquisitions increase Kraken’s product offerings and broaden its global presence.
Major Institutions Back Kraken’s Expansion
Large institutional investors led the primary funding tranche and included:
https://twitter.com/coinbureau/status/1991007275344101677?s=20
- Jane Street
- DRW Venture Capital
- HSG
- Oppenheimer Management of Alternative Investments
- Capital of the Tribe
The family office of Arjun Sethi, Kraken’s co-CEO also made a significant investment.One of the most powerful market-making companies in the world Citadel Securities contributed $200 million to a second tranche.
Additionally Citadel will collaborate with Kraken to offer market structure information, risk management guidance, and liquidity support.
Jim Esposito, president of Citadel stated that the company is thrilled to assist Kraken in creating the “next chapter of digital innovation.”
The announcement that Kraken was looking for $200–$300 million in strategic financing came just after this investment.
Kraken Wants to Grow Worldwide
Kraken claims to use the additional funds to expand into new areas and bolster its regulated presence. The exchange intends to go into:
The Latin American region
- Pacific Asia
- Africa, the Middle East and Europe (EMEA)
- Kraken said it will add more products to its lineup such as:
- Asset classifications other than cryptocurrency
- Advanced tools for trading
- Staking services
- Services for payments
- Better services for institutional investors
- Major Institutions Back Kraken’s Expansion
- There will be both natural growth and strategic acquisitions.
Kraken recently paid $100 million to buy Small Exchange and integrated NinjaTrader, enabling it to provide U.S. futures and derivatives trading.
A Turning Point for Kraken
Kraken is among the oldest and most reputable cryptocurrency exchanges having been founded in 2011. It provides payment services, staking, tokenized assets, derivatives and spot trading.
Even though Kraken is well-known it has never received significant outside funding. The company has only raised $27 million from outside sources prior to this latest round of funding. The decision to raise $800 million represents a significant shift in strategy.
According to Kraken the choice was backed by solid financial results:
$1.5 billion revenues in 2024
In the first three quarters of 2025 that figure has already been exceeded.In terms of daily trading volume, the company is now ranked 14th out of all cryptocurrency exchanges worldwide.
Moreover leadership has changed. After Tribe Capital reformed in late 2024, Arjun Sethi one of the company’s co-founders, joined David Ripley as co-CEO.
https://twitter.com/KalshiEco/status/1990894850154115212
A Friendlier U.S. Crypto Climate Supports IPO Plans
Kraken has long teased at going public. In 2022 it thought about going public but never did. Under President Trump’s second term the U.S. regulatory climate has now greatly improved.
The SEC has softened after being forceful under former chair Gary Gensler. The SEC decided to dismiss its 2023 lawsuit against Kraken “with prejudice” earlier this year which means the case is now closed for good. Kraken neither paid fines nor acknowledged any misconduct.
Kraken’s possible 2026 IPO is getting closer to reality as new funding is obtained and regulatory pressure is lessened.
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