Crypto Exchange Kraken Now Valued at $20B
Kraken just raised $200M from Citadel Securities at a $20B valuation.
Crypto exchange 
Kraken in now valued at $20B after raising $800M from private market investors in two fundraising rounds. Prior to these rounds, Kraken had raised only $27M of primary capital since 2011.
What's the Scoop?
- Fresh Fundraise: Kraken raised $800M across two tranches. The first included participation from Jane Street, Tribe Capital, Kraken Co-CEO Arjun Sethi’s family office, and others. The second was a subsequent $200M strategic investment from TradFi market making titian Citadel Securities, executed at a $20B valuation.
- Growing Business: Kraken generated $1.5B in revenue in 2024, and already surpassed that figure in the first three quarters of 2025. The company now operates a globally regulated stack spanning spot, derivatives, equities, tokenized assets, custody, settlement, data, and payments.
- Product Expansion Continues: Recent launches include U.S. futures via NinjaTrader, equities and tokenized equity trading, and KRAK, Kraken’s global app for payments, savings, and investing.
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Jack Inabinet Jun 27, 2025 • 3 min read
Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
