Investors Value Kraken at $15 Billion, Reports Say

Kraken discreetly completed a $500 million funding round, valuing it at $15 billion.

The cryptocurrency exchange Kraken discreetly completed a $500 million funding round, resulting in a platform valuation of $15 billion, according to Fortune.

The publication notes that this move is a precursor to a planned IPO, which is scheduled for the first quarter of 2026.

The round did not attract a strategic investor and was closed on Kraken’s terms. Venture firm Tribe Capital, co-led by Arjun Sethi, increased its investment in the company.

Founded in 2011, Kraken primarily targeted institutional traders. However, under Sethi’s leadership, the platform has taken steps to attract retail users.

In March, the exchange acquired the futures trading platform NinjaTrader for $1.5 billion. This expanded its client base by two million accounts.

In April, Kraken introduced stock and ETF trading. Among the tokenized products on the xStocks solution were shares of tech giants like Apple, Tesla, and Nvidia.

By 2025, the exchange had raised only $27 million in venture funding. In the second quarter, Kraken’s revenue amounted to $411 million, with profits nearly reaching $80 million.

Earlier in September, the Winklevoss twins’ crypto exchange Gemini went public on Nasdaq, raising $425 million during its IPO.