Reuters: Kraken Eyes $20B Valuation in New Funding Round

Cryptocurrency exchange Kraken is reportedly in advanced negotiations to secure new funding that could value the company at approximately $20 billion, according to a Bloomberg News report. The potential investment, ranging from $200 million to $300 million, may come from a strategic investor. While a Kraken spokesperson declined to comment, the completion of any agreement remains contingent on market conditions. This potential funding round follows an earlier capital raise this year, in which Kraken secured $500 million at a $15 billion valuation. These discussions occur against a backdrop of increasing investor interest in cryptocurrency firms, driven by greater regulatory clarity and increased institutional adoption. This trend has encouraged other crypto-related businesses, including stablecoin issuer Circle, blockchain lender Figure, and crypto exchange Bullish, to pursue public listings with positive market reception. Founded in 2011, Kraken provides spot, margin, and derivatives trading services. The platform supports trading in over 200 crypto assets and eight fiat currencies, serving more than nine million traders and institutions worldwide, as stated on its website. Demonstrating its strategic growth initiatives, Kraken announced in March its planned acquisition of retail futures trading platform NinjaTrader for $1.5 billion.