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Home Latest News Business Kraken Negotiating New Capital Raise at $10B Valuation: Report

Kraken Negotiating New Capital Raise at $10B Valuation: Report

Kraken is allegedly in talks to raise new capital in a move that could see the company’s valuation soar to new heights.

 According to a report by Bloomberg on Thursday, the U.S.-based cryptocurrency exchange is currently in discussions with Fidelity, Tribe Capital, and General Atlantic to raise an unknown sum.

 According to figures cited in the report, if approved and agreed upon, the new funding could more than double the company’s $4 billion valuations to around $10 billion. 

As reported by Coindesk, the report also cites people close to the matter who have requested anonymity due to concerns about the deal’s secrecy. 

In 2019, Kraken raised $13.5 million in a financing round that saw over 2,000 participants buying in. The move pushed the exchange’s valuation above the $4 billion mark. 

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SourceCoindesk

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