Kraken raises $800m at $20B valuation

Kraken is now valued at $20 billion after an $800 million funding round that it says will support the global expansion of the US-based crypto exchange.

Kraken said on Tuesday it raised capital across two branches, with the second tranche including a $200 million strategic investment from US market-making giant Citadel Securities at a $20 billion valuation.

It also includes a strategic partnership with Citadel, which also sits on the Ripple’s $500 million Earlier this month, that saw the firm offer Kraken expertise in diverse liquidity provision, risk management and market structure insight.

Kraken’s main tranche includes backing from Jane Street, DRW Venture Capital, HSG and Tribe Capital, along with a “significant commitment” from the family office of Kraken Co-CEO Arjun Sethi.

“With this additional capital, we will continue to scale our global operations, deepen our regulated footprint and expand our product suite – both organically and through targeted acquisitions,” Kraken said.