Cryptocurrency exchange Kraken is reportedly in the final stages of negotiations for a new funding round, according to a source cited by Bloomberg.
The discussions involve potential investments ranging from $200 million to $300 million, which could boost Kraken’s valuation to $20 billion.
Previously, Kraken secured $500 million in funding at a $15 billion valuation. The upcoming round signals increasing investor confidence in major crypto market players, driven by a more favorable regulatory environment in the U.S. and growing institutional demand.
Bloomberg also notes that Kraken is actively preparing for a potential initial public offering (IPO). The exchange has enlisted Morgan Stanley and Goldman Sachs as underwriters, with a listing possibly planned for 2026.
Earlier reports from Bloomberg in March indicated that Kraken was targeting an IPO in the first quarter of 2026.
