Overview
- Fortune reported the round closed in September without a lead investor, with terms set by Kraken and participation from Tribe Capital and co-CEO Arjun Sethi personally.
- The company reported about $411 million in Q2 2025 revenue and nearly $80 million in post-EBITDA earnings, supporting plans to go public in 2026.
- Kraken’s expansion includes the $1.5 billion acquisition of NinjaTrader, which added roughly two million customers, and the launch of xStocks tokenized shares.
- Following the raise, Bloomberg reported Kraken is in talks with a strategic investor about additional funding that could imply a $20 billion valuation, which has not been confirmed by the company.
- On-chain trackers noted large recent ETH accumulation totaling about 406,117 ETH and said Ethereum co-founder Jeffrey Wilcke moved roughly 1,500 ETH to Kraken.