Crypto exchange Kraken seeks to raise $500 million in private funding, with rumours of a 2026 IPO circulating, according to a report from The Information.
Kraken Funding Effort Suggests $15 Billion Price Tag for Crypto Exchange: The Information
30 July 2025 - 10:31 CEST
The exchange had previously been valued at around $11 billion in 2022 and has made notable changes since then. Arjun Sethi was brought on as co-CEO, and the company also began releasing financial figures publicly. The Information’s report notes that this round of investment is critical for the IPO, as it has the potential to bring on serious institutional investors.
Kraken Expanding
With its IPO ambitions in mind, Kraken has been active this year.
The company acquired retail futures trading platform NinjaTrader, in a $1.5 billion purchase which Kraken said would enable expansion into multiple asset classes and grow their user base.
In June, the company launched “Krak,” a peer-to-peer payments app on which users can send both fiat and cryptocurrencies. The same month, Kraken also announced it had secured a MiCAR license to provide services in the EU.
Favourable regulatory environment
Kraken has laid a prominent trail around its IPO ambitions and has been expected to target early 2026 after the US Securities & Exchange Commission (SEC) dropped a legal case against the firm in March this year.
The Trump administration has been very favourable towards crypto regulations, dropping Biden-era lawsuits and courting crypto investment. Publicly listed companies such as Circle and Coinbase have seen their market value grow significantly amidst the crypto-positive setting.
Kraken gathered $472 million in “gross revenue” for the first quarter of 2025, representing 19% year-over-year growth, the company reported in May.
