Kraken Scores $800M Raise Backed by $200M Citadel Investment

Kraken, a prominent crypto exchange, has raised $800 million in funding, including $200 million from Citadel Securities, aiming to bridge traditional financial markets with blockchain infrastructure. This funding round values Kraken at $20 billion and marks a significant shift in the relationship between cryptocurrency firms and traditional finance. The capital will support Kraken's global expansion and the development of new financial products, including trading, payments, and tokenized assets. The investment round was led by institutional players such as Jane Street and DRW Venture Capital. Kraken's co-CEO, Arjun Sethi, emphasized the company's commitment to creating a comprehensive trading platform for all asset types. This funding is a major milestone for Kraken, which had previously raised only $27 million in capital. The company plans to use the new resources to enhance its offerings in key markets, particularly in Latin America and Asia Pacific, and to meet the increasing demand for regulated access to digital assets.

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