Kraken Secures $800M Funding, Valued at $20B

Cryptocurrency exchange Kraken announced on Tuesday that it has secured $800 million in funding across two recent investment rounds, including a $200 million strategic infusion from Citadel Securities that values the company at $20 billion. The U.S.-based platform, founded in 2011 and headquartered in Wyoming, described the capital as a boost to its global operations and product development amid growing interest from traditional financial institutions in digital assets.

The funding comprises a primary tranche of $600 million closed in September, led by institutional investors such as Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital. It also included a significant commitment from the family office of Kraken co-CEO Arjun Sethi. The latest $200 million from Citadel Securities, a major market-making firm founded by Ken Griffin, builds on that earlier round and establishes a partnership focused on liquidity provision, risk management, and market structure analysis.

"This investment represents long-term conviction in Kraken's mission to build trusted, regulated infrastructure for the open financial system," Sethi said in a...