Kraken Closes $100M Funding Round, Valued at $15 Billion
Kraken's $100 Million Funding and Strategic Moves:
- Kraken closed a $100 million funding round, valuing the company at $15 billion.
- The funding aims to support Kraken's focus on professional traders and institutions.
- No single lead investor; terms set by Kraken, with contributions from venture capital firms and investment managers.
- Co-CEO Arjun Sethi and Tribe Capital also participated in the funding.
Financial Performance and Executive Changes:
- Reported $80 million in post-Ebitda earnings and $411 million in revenue for Q2.
- Experienced significant executive turnover; seen as restructuring before an IPO.
- IPO delayed to 2026 due to these changes.
Integration of TradFi and Crypto:
- Acquired NinjaTrader for $1.5 billion, adding two million users.
- Introduced tokenized shares of companies like Apple and Tesla, tradeable on blockchains.
Political Advocacy and Future Plans:
- Donated $1 million to the Freedom Fund PAC and pledged another $1 million to America First Digital.
- Sethi emphasizes self-custody, permissionless systems, and financial privacy amid regulatory challenges.
- Competitors such as Circle, Gemini, and Bullish have already gone public.
For more details, visit Coinspeaker.