(Reuters) -Crypto exchange Kraken is in advanced talks to secure fresh funding that could value the company at about $20 billion, Bloomberg News reported on Friday. The funding would include a commitment of $200 million to $300 million from a strategic investor, the report said, citing a person familiar with the discussions. A spokesperson for […]
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Kraken in talks to raise funds at $20 billion valuation, Bloomberg News reports
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(Reuters) -Crypto exchange Kraken is in advanced talks to secure fresh funding that could value the company at about $20 billion, Bloomberg News reported on Friday.
The funding would include a commitment of $200 million to $300 million from a strategic investor, the report said, citing a person familiar with the discussions.
A spokesperson for Kraken declined to comment on the report.
The deal, which is subject to market conditions, would follow the company’s $500 million fundraising round at a $15 billion valuation earlier this year, the report added.
Investor interest in cryptocurrency firms has been rising as the asset class benefits from clearer regulations and broader institutional adoption.
This trend has pushed some crypto firms to go public, including stablecoin issuer Circle, blockchain lender Figure and crypto exchange Bullish, all of which were well received during their market debuts.
Kraken, founded in 2011, is a major global crypto exchange offering spot, margin and derivatives trading. It supports more than 200 assets, eight fiat currencies, and serves over nine million traders and institutions worldwide, according to its website.
In March, Kraken said it would acquire retail futures trading platform NinjaTrader in a $1.5 billion deal.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Mohammed Safi Shamsi)