Overview
- Citadel Securities' $200 million strategic stake includes planned work with Kraken on liquidity provision, risk management and market-structure analysis.
- A separate primary tranche drew institutional investors including Jane Street, DRW, HSG, Oppenheimer Alternative Investment Management and Tribe Capital, with additional capital from co-CEO Arjun Sethi’s family office.
- Kraken says the funds will support expansion in Latin America, Asia Pacific and EMEA while adding tokenized assets, derivatives, payments services and institutional trading tools.
- The company reported $1.5 billion in revenue for 2024 and said it had already surpassed that figure by the third quarter of 2025.
- Coverage links the raise to preparations for a potential IPO as early as 2026, though Kraken has not filed to go public and executives say they will not rush a listing.