Kraken bags $800M for expansion plans at $20B valuation

Crypto exchange Kraken has raised $800 million across two funding rounds, which boosted its valuation to $20 billion.

Kraken says it’s now valued at $20 billion after an $800 million funding round it said would support the US-based crypto exchange’s global expansion. 

Kraken said on Tuesday that it raised the capital across two tranches, with the second tranche including a $200 million strategic investment from US market-making giant Citadel Securities at a $20 billion valuation.

It also included a strategic partnership with Citadel, which also pitched in to Ripple’s $500 million raise earlier this month, which will see the firm offer Kraken expertise on differentiated liquidity provision, risk management and market structure insights.

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