Kraken Raises $800M for Expansion Plans

Crypto exchange Kraken has successfully raised $800 million through two funding rounds, elevating its valuation to $20 billion. The capital injection is aimed at supporting Kraken's global expansion efforts. The second tranche included a strategic investment of $200 million from Citadel Securities, which also formed a partnership to provide Kraken with expertise in liquidity provision and market insights. Kraken's first tranche saw investment from firms such as Jane Street and Tribe Capital, along with a significant commitment from the family office of Co-CEO Arjun Sethi. With this funding, Kraken plans to enhance its regulated operations and expand its product offerings across various regions including Latin America and Europe. Despite ongoing discussions about a possible IPO, Kraken has yet to make a formal move towards going public, although co-CEO Sethi noted the company is in a strong financial position with robust private backing.

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