TechFlow, November 19 — According to The Block, cryptocurrency exchange Kraken announced on Tuesday that it has raised $800 million in two funding rounds, bringing the company's valuation to $20 billion. The first round was led by institutional investors including Jane Street and DRW Venture Capital, along with a significant investment from Arjun Sethi’s family office, Kraken’s co-CEO. The second round secured a $200 million strategic investment from Citadel Securities.
Citadel Securities will provide Kraken with differentiated liquidity, risk management expertise, and market structure insights. This funding round will support Kraken’s planned IPO in early 2026.
Recently, Kraken has expanded its global operations through acquisitions, including the $100 million purchase of Small Exchange to launch a U.S. derivatives trading platform. The company reported revenue of $472 million in Q1 2025, up 19% year-on-year, with last month’s trading volume reaching $40.5 billion.
