Kraken Raises $800M at $20B Valuation

Kraken says it’s now valued at $20 billion after an $800 million funding spherical it stated would assist the US-based crypto change’s world growth. 

Kraken said on Tuesday that it raised the capital throughout two tranches, with the second tranche together with a $200 million strategic funding from US market-making big Citadel Securities at a $20 billion valuation.

It additionally included a strategic partnership with Citadel, which additionally pitched in to Ripple’s $500 million raise earlier this month, which is able to see the agency supply Kraken experience on differentiated liquidity provision, danger administration and market construction insights.

Kraken’s main tranche included backing from Jane Road, DRW Enterprise Capital, HSG and Tribe Capital, alongside a “important dedication” from the household workplace of Kraken Co-CEO Arjun Sethi.

“With this extra capital, we are going to proceed scaling our world operations, deepening our regulated footprint and increasing our product suite — each organically and thru focused acquisitions,” Kraken stated.