Overview
- Kraken confirmed a $200 million strategic investment from Citadel Securities that values the exchange at $20 billion.
- The raise follows a $600 million September financing at a $15 billion valuation, taking recent funding to roughly $800 million.
- Citadel Securities will collaborate with Kraken on risk management and market-structure analysis, according to statements shared with Fortune.
- Kraken says the new capital will fund expansion outside North America, development of payments products, and continued M&A ahead of a potential IPO next year.
- The exchange reported $648 million in third-quarter revenue and completed acquisitions including the $1.5 billion purchase of NinjaTrader.