Cryptocurrency exchange Kraken is allegedly preparing to raise $500 million in new funding, aiming for a $15 billion valuation.
Summary
- Kraken is targetting a $500M raise at a $15B valuation to support growth.
- U.S. crypto laws like the GENIUS and CLARITY Acts bring more regulatory certainty and encourage investors.
- Kraken is expanding through acquisitions, licenses, and new services.
The report, published by The Information and confirmed by Reuters on July 30, cites people familiar with the matter. The potential raise comes months after a U.S. court dismissed the Securities and Exchange Commission lawsuit against Kraken in earlier this year, relieving regulatory hurdles and opening paths for growth.
Institutional interest in cryptocurrency has increased in 2025, supported by clearer regulations in the U.S. As an example, the GENIUS Act, which was enacted in mid-July, lays out new requirements for stablecoin issuers and sets reserve standards that align with traditional finance.
Another bill, the CLARITY Act, which was passed by the House during “Crypto Week,” proposes that the SEC relinquish its oversight of the majority of cryptocurrencies to the Commodity Futures Trading Commission.
These changes mark a shift from prior uncertainty and are encouraging institutional investors to engage more confidently with the sector. Kraken joins companies like BitGo and Grayscale in attracting late-stage capital as they prepare for potential public listings.
Kraken’s global expansion strategy
Founded in 2011 and based in the U.S., Kraken has ramped up efforts to diversify its offerings and expand globally. In March, it acquired futures trading platform NinjaTrader for $1.5 billion. It also launched the Krak App in June, supporting global payments in over 300 digital and fiat assets across 110 countries.
Kraken now holds MiCA, MiFID, and EMI licenses in Europe and the U.K., and has expanded into Latin America with local currency support in Argentina and Mexico. Additional product launches include an ultra-low latency colocation service, tokenized stocks, and Bitcoin (BTC) staking with Babylon.
The company’s revenue in 2024 was $1.5 billion, up 128% from the previous year, and its adjusted EBITDA was $424 million. With a 99.9% uptime and a latency of less than two milliseconds, it managed over 2.5 billion trades. Its 24-hour trading volume has consistently topped $1 billion across more than 450 cryptocurrencies and several fiat pairs.
