US-based cryptocurrency exchange Kraken, has successfully closed a $500 million funding round, achieving a valuation of $15 billion, as reported by Fortune. This significant milestone comes as the company gears up for its anticipated initial public offering (IPO), which is expected to take place next year.

Kraken’s Valuation Rises To $15 Billion

In July, The Information reported on Kraken’s intentions to raise this substantial amount, and recent updates confirm that the funding round was finalized this month without a primary investor.

Instead, Kraken set the terms of the deal, including the valuation figure. Among the contributors to this funding round were various investment managers and venture capitalists, notably including the exchange co-CEO Arjun Sethi’s Tribe Capital

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