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Kraken closes $500M round: Report

Secret3 AI

26 Sep 2025 — 1 min read

Kraken has completed a $500 million funding round, valuing the crypto exchange at $15 billion and moving closer to a potential IPO now anticipated in 2026. The round included various investment managers, venture capitalists, and co-CEO Arjun Sethi through Tribe Capital. Founded in 2011, Kraken has built a strong reputation among professional traders and institutions, relying primarily on minimal outside funding until now. The recent capital raise indicates a new, aggressive strategy amidst executive changes within the company, which have reportedly affected employee morale. Sethi, who became co-CEO in October 2024, has been pivotal in restructuring Kraken, coinciding with the exit of senior executives. Additionally, Kraken's expansions include significant acquisitions and new products like tokenized shares through 'xStocks.' Current financials indicate a robust performance with revenue and earnings showing profitability, yet investor pressure mounts as competition grows with other crypto firms going public. Sethi emphasized that an IPO will only occur under favorable conditions for users and shareholders, while the latest fundraising suggests readiness for a swift public offering should the market remain supportive. This story is ongoing.

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What Is Hyperliquid? The Decentralized Exchange With Its Own Blockchain

What Would a Government Shutdown Mean for Crypto?

The UK needs regulatory clarity that matches ambition

Retail and Quants Boost DEX Adoption as Institutions Stick With CEXs