Kraken Wraps Up Massive $500M Funding Round at Staggering $15B Valuation
Kraken seals the deal on landmark crypto exchange funding.
Valuation Milestone Hits $15 Billion
The exchange just locked in its $500 million funding round—propelling its valuation to unprecedented heights. Traditional finance veterans are watching with equal parts fascination and skepticism as crypto infrastructure continues outpacing legacy systems.
Active investors poured capital into one of crypto's longest-standing institutions, betting big on the future of digital asset trading. The move signals growing institutional confidence despite regulatory headwinds.
While Wall Street still debates whether crypto is a legitimate asset class, Kraken's funding round demonstrates where smart money is actually flowing. Another reminder that traditional finance often shows up to the party after the real growth has already happened.
Kraken expanded on growing demand for crypto infrastructure
Kraken, which launched in 2011, was key to growing the crypto infrastructure, with significant penetration for EU markets. The exchange was one of the key fiat ramps for many years, though it remained overshadowed by its bigger competitors.
So far, Kraken has raised $122.5M in funding, with three late-stage undisclosed rounds. The recent $500M investment was closed in the past month, but was not announced widely. The exchange has also relied on its earnings, getting a boost from the 2024 bull market and additional product fees.
Ahead of the funding round, Kraken published positive results for Q2, with improved performance on all metrics. Kraken achieved $411M in revenues and $80M in earnings for the second quarter, making itself a target for late-stage investments in an already thriving platform.
The exchange also became more influential, taking up 68% of the fiat to crypto market, up from a previous level of 43%.
Can Kraken thrive in another bear market?
Kraken’s fundraising happened during a period of positive performance for the crypto market. Kraken is positioned for both centralized services and DeFi, as it carries 5.8% of staked ETH.
Kraken’s IPO bid in 2026 may depend on the overall demand for crypto trading. However, during the 2024 and 2025 market, Kraken joined the trend of well-developed products, despite the relatively lower hype.
Besides being a regulated platform with fiat access, Kraken has been quick to adopt and test new trends from crypto bull cycles. Currently, the exchange offers multiple services, including perpetual futures, stock trading, as well as a payment app.
Kraken is already well-established with whales and institutional traders. Growth may also come from expanding retail services, including XStocks and other features.
The exchange has been repositioning since its reshuffling of leadership, with Sethi currently the main decision person in the CEO role. Kraken’s IPO was expected earlier, but was delayed as the platform changed its CTO, COO, and senior staff.
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