Kraken Raises $200 Million from Citadel Securities at $20 Billion Valuation
Kraken has raised $200 million from Citadel Securities, bringing its valuation to $20 billion. This funding round follows a $600 million raise in September at a $15 billion valuation, totaling $800 million in funding.
Citadel Securities' investment is described as strategic, with plans to collaborate with Kraken on risk management and market-structure analysis. The new capital will be used to expand Kraken’s reach outside North America and to develop new payments products, strengthening the company's balance sheet ahead of a planned IPO.
Kraken is targeting a public listing as early as 2026, with Morgan Stanley and Goldman Sachs reportedly leading the offering. Since January, Kraken has pursued acquisitions, including a $1.5 billion purchase of NinjaTrader to enhance its derivatives trading capabilities.
These funding rounds reflect growing traditional-finance interest in crypto infrastructure and mark a shift for Citadel Securities toward more involvement in crypto market activity. Other investors in the September round included Jane Street, DRW, HSG, Oppenheimer, Tribe Capital, and the family office of Kraken co-CEO Arjun Sethi.
