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Kraken Eyes $20B Valuation in Pre-IPO Funding Round: Report

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Kraken is reportedly in superior talks to lift between $200 million and $300 million from a strategic investor in a transfer that would worth the crypto alternate at $20 billion forward of a deliberate public itemizing, in keeping with a Bloomberg report on Friday.

Key Takeaways:

  • Kraken is looking for $200–$300 million in new funding, probably elevating its valuation to $20 billion forward of a 2026 IPO.
  • The alternate is increasing aggressively, with acquisitions, new management, and over $1.5 billion in 2024 income.
  • Kraken is stepping up its political involvement, pledging $2 million to pro-crypto PACs supporting industry-aligned candidates.

The funding, whereas not but finalized, follows a separate $500 million spherical quietly accomplished at a $15 billion valuation, as reported by Fortune.

The capital increase alerts Kraken’s push to place itself among the many top-tier crypto companies getting ready to go public.

Kraken Targets 2026 IPO Amid Expansion Plans

The San Francisco-based alternate, one of many largest in the US by quantity, is aiming for an IPO as early as 2026.

Bloomberg famous that Kraken is working with Morgan Stanley and Goldman Sachs Group to steer the providing.

Kraken has additionally been aggressively increasing. In March, it introduced plans to accumulate derivatives platform NinjaTrader in a $1.5 billion deal.

The agency restructured in late 2024, appointing Tribe Capital’s Arjun Sethi as co-CEO, and started publishing financials, revealing $1.5 billion in income for 2024 and $472 million in Q1 2025.

This week, Kraken additionally pledged $2 million to pro-Trump crypto political motion committees (PACs) in 2025, indicating the rising affect of digital asset companies in Washington.

In a publish on X, Co-CEO of Kraken Arjun Sethi famous that the alternate will donate $1 million to the Digital Freedom Fund (DFF) and one other $1 million to enterprise agency Andreessen Horowitz’s advocacy initiative, the America First Digital (AFD).

The resolution, he mentioned, displays a broader technique by crypto corporations to form regulatory frameworks and assist candidates who again {industry} progress.

Notably, Kraken’s newest pledge provides to its earlier contributions to political motion committees. In January 2024, its father or mother firm, Payward Inc., donated $750,000 to Fairshake PAC.

Crypto IPOs Gain Momentum

Last week, BitGo formally filed for an initial public offering, turning into the primary devoted crypto custodian to pursue an inventory on a US inventory alternate.

BitGo’s IPO submitting got here amid renewed momentum for crypto-related public choices.

The digital asset area has seen a number of notable public listings in 2025. Stablecoin issuer Circle made a splash with its IPO in June, surging greater than sevenfold since going public.

Online trading platform Etoro, which affords crypto buying and selling amongst its providers, debuted in May.

In addition, Galaxy Digital, led by Mike Novogratz, moved its itemizing from the Toronto Stock Exchange to Nasdaq earlier this yr.

Gemini, the alternate based by the Winklevoss twins, filed confidentially for a U.S. IPO in June, signaling robust market confidence in crypto exchanges going public.

More just lately, Figure Technology Solutions Inc., a blockchain-focused lending platform, raised $787.5 million in its initial public offering.

The San Francisco-based firm, alongside key backers together with Ribbit Capital, offered 31.5 million shares at $25 apiece, valuing the agency at roughly $5.3 billion.

Originally concentrating on a decrease vary, Figure elevated each the share rely and value simply days earlier than the itemizing, signaling robust investor demand.

The publish Kraken Eyes $20B Valuation in Pre-IPO Funding Round: Report appeared first on Cryptonews.

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