Crypto exchange Kraken is reportedly in talks with a strategic investor to raise capital that pushes its valuation to $20 billion ahead of a potential initial public offering (IPO). This development comes amid the crypto firms’ IPO frenzy in the US under a rather supportive administration of President Donald Trump.

Kraken Stays Focused, Follows $500M Raise With New Funding

On Friday, Bloomberg reported that Kraken has begun advanced negotiations to boost its value to $20 billion as part of fundraising efforts in view of a planned IPO. Impressively, this move follows a recent $500 million raise, which took Kraken’s valuation to $15 billion.

Bloomberg first reported on Kraken’s IPO valuation in March 2025, stating the exchange was targeting a public listing in the first quarter of 2026.

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